Construct · 1 fields · 1 citations

welfare cost of inflation: a standalone construct

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Monetary economics

the loss from people economizing on money balances when inflation taxes them, measured as the area under the money demand curve.

In monetary economics, welfare cost of inflation refers to the loss from people economizing on money balances when inflation taxes them, measured as the area under the money demand curve. This meaning comes from Bailey (1956) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

cost4 fields · 4 citationsjingle · one word, four constructs demand4 fields · 4 citationsjingle · one word, four constructs inflation3 fields · 4 citationsjingle · one word, three constructs

References

Bailey, M. J. (1956). The Welfare Cost of Inflationary Finance. Journal of Political Economy, 64(2), 93-110. https://doi.org/10.1086/257766

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