How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation1
نویسندگان
چکیده
1 Useful comments were received from participants at Leiden and Sophia Antipolis. Financial support from the NSF is gratefully acknowledged.
منابع مشابه
How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation∗
We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that, in our model economy, increasing the trend rate of inflation above 3 percent has a substantial deleterious effect, but lowering it below 3 percent has no significant macroeconomic consequences. Our findin...
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