Arbeitspapier
The welfare effects of inflation: a cost-benefit perspective
This paper reviews theory and evidence of the welfare effects of inflation from a costbenefit perspective. Basic models and selected empirical results are discussed. Historically, in assessing the welfare effects of inflation, the distortion of money demand played a prominent role. More recently, interactions of inflation and taxation came into focus. Growth effects of inflation as well as welfare effects of unanticipated inflation and of inflation uncertainty are also addressed. To assess the policy question whether inflation should be reduced or eliminated, the costs of disinflation play a role. Finally, the trade-off between the benefits of reducing inflation and the costs of disinflation is discussed and an overall assessment of the net welfare effects of achieving price stability is provided.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper Series 1 ; No. 2007,33
- Klassifikation
-
Wirtschaft
Demand for Money
Price Level; Inflation; Deflation
Taxation and Subsidies: Efficiency; Optimal Taxation
Macroeconomics: Consumption; Saving; Wealth
Allocative Efficiency; Cost-Benefit Analysis
- Thema
-
Inflation
price stability
welfare costs and benefits
distortions
money demand
consumption allocation
tax-inflation interaction
Inflation
Wohlfahrtseffekt
Inflationsbekämpfung
Preisniveaustabilität
Kosten-Nutzen-Analyse
Theorie
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Tödter, Karl-Heinz
Manzke, Bernhard
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Tödter, Karl-Heinz
- Manzke, Bernhard
- Deutsche Bundesbank
Entstanden
- 2007