The cost of inflation: a mechanism design approach

DOI10.1016/j.jet.2012.01.016zbMath1258.91092MaRDI 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 inflation; optimal mechanism; pairwise trades

Mathematics Subject Classification ID

91B64: Macroeconomic theory (monetary models, models of taxation)

91B26: Auctions, bargaining, bidding and selling, and other market models

91B82: Statistical methods; economic indices and measures

Related Items

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

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