The Inflation Tax in a Real Business Cycle Model
The Inflation Tax in a Real Business Cycle Model
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真实经济周期模型中的通货膨胀税
DOI：
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发表时间：
1988
期刊：
影响因子：
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通讯作者：
G. Hansen
中科院分区：
文献类型：
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作者：
Thomas F. Cooley;G. Hansen
货币被纳入一个真实的商业周期模型使用现金预付款约束。该模型用于分析高通胀和低通胀经济体的商业周期是否不同，以及分析货币增长率变化的影响。测量了通货膨胀税的福利成本，并比较了高通货膨胀和低通货膨胀经济体的稳态特性。持续（10%）通货膨胀的福利成本估计在国民生产总值的0.11%至0.4%之间。高通胀和低通胀经济体的商业周期特征是相同的，但稳态路径可能大不相同。版权所有1989年美国经济协会。
Money is incorporated into a real business cycle model using a cash-in-advance constraint. The model is used to analyze whether the business cycle is different in high-inflation and low-inflation economies and to analyze the impact of variability in the growth rate of money. The welfare cost of the inflation tax is measured and the steady-state properties of high and low inflation economies are compared. The welfare cost of a sustained (10 percent) inflation is estimated to be between 0.11 percent and 0.4 percent of GNP. The features of the business cycle are the same in high and low inflation economies, but the steady-state paths may be quite different. Copyright 1989 by American Economic Association.