haku: @indexterm INFLATION POLICY / yhteensä: 17
viite: 5 / 17
| Tekijä: | Fershtman, C. Fishman, A. Simhon, A. |
| Otsikko: | Inflation and efficiency in a search economy |
| Lehti: | International Economic Review
2003 : FEB, VOL. 44:1, p. 205-222 |
| Asiasana: | Inflation policy Efficiency Economic theory |
| Kieli: | eng |
| Tiivistelmä: | The authors prsent a model in which purely monetary inflation systematically affects efficiency, welfare, and relative prices. The model focuses on the microeconomics of trade in search markets under inflation. Inflation, by increasing the cost of holding money, undermines the market's ability to sustain long-term customer relationships. Because those relationships generate the most efficient transactions patterns overal welfare unambiguously declines. |
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