Arbeitspapier
Inflation and welfare in an OLG economy with a privately provided public good
In this paper we study the welfare effects of monetary policy in a simple overlapping generation economy in which agents voluntarily contribute to a public good. Inflation has two effects at equilibrium: it increases voluntary contributions and it misallocates private consumption across time. We show that the aggregate effect is welfare-improving for "not too large" inflation rates. Moreover, there exists an optimal inflation rate.
- Language
-
Englisch
- Bibliographic citation
-
Series: Nota di Lavoro ; No. 12.2001
- Classification
-
Wirtschaft
Public Goods
Monetary Policy
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Subject
-
Optimal inflation
public goods
voluntary contributions
Öffentliche Güter
Privatisierung
Inflation
Wohlfahrtsanalyse
Overlapping Generations
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Bloise, Gaetano
Currarini, Sergio
Kikidis, Nicholas
- Event
-
Veröffentlichung
- (who)
-
Fondazione Eni Enrico Mattei (FEEM)
- (where)
-
Milano
- (when)
-
2001
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Bloise, Gaetano
- Currarini, Sergio
- Kikidis, Nicholas
- Fondazione Eni Enrico Mattei (FEEM)
Time of origin
- 2001
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