The cost of inflation: a mechanism design approach

DOI10.1016/j.jet.2012.01.016zbMath1258.91092OpenAlexW3122010399MaRDI QIDQ417633

Guillaume Rocheteau

Publication date: 14 May 2012

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://www.clevelandfed.org/en/Newsroom%20and%20Events/Publications/Working%20Papers/~/media/E6134878427E4FEEB7F1DF6FCA25698A.ashx

zbMATH Keywords

cost of inflationoptimal mechanismpairwise trades

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Auctions, bargaining, bidding and selling, and other market models (91B26) Statistical methods; economic indices and measures (91B82)

Related Items (6)

Monetary exchange and the irreducible cost of inflation ⋮ Inflation tax in the lab: a theoretical and experimental study of competitive search equilibrium with inflation ⋮ Co-essentiality of money and credit: a mechanism-design view ⋮ On the coexistence of money and higher-return assets and its social role ⋮ Money and price posting under private information ⋮ Decentralizing constrained-efficient allocations in the Lagos-Wright pure currency economy

Cites Work

• Search, money, and inflation under private information
• Efficient propagation of shocks and the optimal return on money
• A dynamic model of settlement
• Essential interest-bearing money
• Some benefits of cyclical monetary policy
• Money is memory
• Incomplete record-keeping and optimal payment arrangements
• Optimal fiscal and monetary policy when money is essential
• Inflation and Welfare
• A Divisible Search Model of Fiat Money

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