Browsing FGV EPGE - Ensaios Econômicos by Title "Welfare costs of inflation: the case for interest-bearing money and empirical estimates for Brazil"

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Welfare costs of inflation: the case for interest-bearing money and empirical estimates for Brazil

Simonsen, Mario Henrique; Cysne, Rubens Penha
1994-07

We provide in this paper a closed fonn for the Welfare Cost of Inflation which we prove to be closer than Bailey's expression to the correct solution of the corresponding non-separable differential equation. Next. we extend ...