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| Author: | Lucas, R. E. |
| Title: | Inflation and welfare |
| Journal: | Econometrica
2000 : MAR, VOL. 68:2, p. 247-274 |
| Index terms: | Inflation policy USA Welfare Interest rates Monetary policy Quantitative techniques Time series |
| Language: | eng |
| Abstract: | This paper surveys research on the welfare cost of inflation. New estimates are based on U.S. time series for 1900-94. The estimate is that the gain from reducing the annual inflation rate from 10 percent to zero is equivalent to an increase in real income of slightly less than one percent. |
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