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.
- Sprache
-
Englisch
- Erschienen in
-
Series: Nota di Lavoro ; No. 12.2001
- Klassifikation
-
Wirtschaft
Public Goods
Monetary Policy
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
- Thema
-
Optimal inflation
public goods
voluntary contributions
Öffentliche Güter
Privatisierung
Inflation
Wohlfahrtsanalyse
Overlapping Generations
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bloise, Gaetano
Currarini, Sergio
Kikidis, Nicholas
- Ereignis
-
Veröffentlichung
- (wer)
-
Fondazione Eni Enrico Mattei (FEEM)
- (wo)
-
Milano
- (wann)
-
2001
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Bloise, Gaetano
- Currarini, Sergio
- Kikidis, Nicholas
- Fondazione Eni Enrico Mattei (FEEM)
Entstanden
- 2001
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