Browsing FGV EPGE - Seminários de Pesquisa Econômica by Title "Bailey's measure of the welfare costs of infiation as a general-equilibrium measure"

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Bailey's measure of the welfare costs of infiation as a general-equilibrium measure

Cysne, Rubens Penha
2007-11-22

Lucas (2000) has ShO\nl t hat Baile,\''s formula for t hc \\'elfare costs of inflatioIl caIl bc rcgardpd as an approximation to t hc gcneral-equilibriuIll IllCaSllH'S \\'hich emerge from thc Sidrauski anrl the shopping-time ...