Browsing FGV EPGE - Ensaios Econômicos by Title "Bailey's measure of the welfare costs of inflation as a general-equilibrium measure"

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

Cysne, Rubens Penha
2017

Lucas (2000) has shown that Bailey’s formula for the welfare costs of inflation can be regarded as an approximation to the general-equilibrium measures that emerge from the Sidrauski and the shopping-time models. In this ...