Inflation tax in the lab: a theoretical and experimental study of competitive search equilibrium with inflation
نویسندگان
چکیده
منابع مشابه
Inflation tax in the lab: a theoretical and experimental study of competitive search equilibrium with inflation
In this paper we measure the effect of the inflation tax on economic activity and welfare within a controlled setting. To do so, we develop a model of price posting and monetary exchange with inflation and finite populations. The model, which provides a game–theoretic foundation to Rocheteau and Wright (2005)'s competitive search monetary equilibrium, is used to derive theoretical propositions ...
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The optimal inflation tax is reexamined in the framework of dynamic second best economy populated by individuals with inflation aversion. A simple formula for the optimal inflation rate is derived. Different from the literature, it is shown that if the marginal excess burden of other distorting taxes approaches zero, Friedman’s rule for optimum quantity of money is not optimal, and the optimal ...
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پس از بررسی هر کدام از فاکتورهای نوع صنعت, نوع ضمانت نامه, نرخ بهره , نرخ تورم, ریسک اعتباری کشورها, کارمزد, ریکاوری, gdp, پوشش و وثیقه بر ریسک اعتباری صندوق ضمانت صادرات ایران مشخص گردید که همه فاکتورها به استثنای ریسک اعتباری کشورها و کارمزد بقیه فاکتورها رابطه معناداری با ریسک اعتباری دارند در ضمن نرخ بهره , نرخ تورم, ریکاوری, و نوع صنعت و ریسک کشورها اثر عکس روی ریسک اعتباری داردو پوشش, وثی...
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I study the effects of inflation on the purchasing behavior of buyers in an economy where money is essential for certain transactions (as in Lagos and Wright, 2005). I show that higher inflation induces buyers to search for transactions more intensively and buy goods of worse quality to avoid holding for a prolonged period of time a fast depreciating asset like money. The standard framework fai...
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We determine the second best rule for the inflation tax in monetary general equilibrium models where money is dominated in rate of return. The results in the literature are ambiguous and inconsistent across different monetary environments. We derive and compare the optimal inflation tax solutions across the different environments and find that Friedman's policy recommendation of a zero nominal ...
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ژورنال
عنوان ژورنال: Journal of Economic Dynamics and Control
سال: 2015
ISSN: 0165-1889
DOI: 10.1016/j.jedc.2015.09.005