Welfare Costs of Inflation, Seigniorage, and Financial innovation /
This paper examines the welfare effects of mitigating the costs of inflation. In a simple model where money reduces transaction costs, a fall in the costs of inflation is equivalent to financial innovation. This can be caused by paying interest on deposits, indexing money, or 'dollarizing.'...
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| 格式: | 雜誌 |
| 語言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
1991.
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| 叢編: | IMF Working Papers; Working Paper ;
No. 1991/001 |
| 在線閱讀: | Full text available on IMF |