Costly Inflation Misperceptions
نویسندگان
چکیده
منابع مشابه
Perceptions and Misperceptions of Fiscal Inflation
The Great Recession and worldwide financial crisis have exploded fiscal imbalances and brought fiscal policy and inflation to the forefront of policy concerns. Those concerns will only grow as aging populations increase demands on government expenditures in coming decades. It is widely perceived that fiscal policy is inflationary if and only if it leads the central bank to print new currency to...
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We study the welfare cost of inflation in a general equilibrium life cycle model with growth, costly financial intermediation, and taxes on nominal quantities. We find a stationary equilibrium of the model matches a wide variety of facts about the postwar U.S. economy. We then calculate that the inflation policy of the monetary authority has welfare consequences for agents that are an order of ...
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Une vaste littérature analyse les effets réels de coûts d'ajustement des prix en sup-posant que les ajustements de quantités sont sans coûts. Dans ce papier, nous analysons si la présence de coûts d'ajustement des quantités, qui sont probable-ment significatifs, change le résultat traditionnel sur l'impact de l'inflation. En particulier, des résultats récents suggèrent que les coûts d'ajustemen...
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iscussions about evidence-based medicine (EBM) have engendered both positive and negative reactions from clini-cians, researchers, and policymakers since the term was first coined in the early 1990s (1, 2). These discussions were brought to the forefront again in a recent commentary by Dr. Bernadine Healy, former Director of National Institutes of Health (NIH), in US News and World Report(3). S...
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Persister cells survive antibiotic treatment due to their lack of metabolism, rather than through genetic change, as shown via four seminal experiments conducted by the discoverers of the phenotype (Hobby et al., 1942; Bigger, 1944). Unfortunately, over seven decades of persister cell research, the literature has been populated by misperceptions that do not withstand scrutiny. This opinion piec...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1022610