IMF Staff papers : Volume 38 No. 4.
The welfare effects of mitigating the costs of inflation are examined. In a model where money reduces transactions costs, a fall in inflation costs is equivalent to financial innovation. This can be caused by paying interest on deposits, indexing money, or 'dollarizing.' Results indicate t...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1991.
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| Series: | IMF Staff Papers; IMF Staff Papers ;
No. 1991/003 |
| Online Access: | Full text available on IMF |