Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/242864
Authors: 
Benati, Luca
Nicolini, Juan Pablo
Year of Publication: 
2021
Series/Report no.: 
Discussion Papers No. 21-13
Abstract: 
We revisit the estimation of the welfare costs of inflation originating from lack of liquidity satiation. We use data for the United States and several other developed countries. Our computations are heavily influenced by the recent experience of very low, even negative, short term rates observed in the countries we study. We obtain estimates that are close to those obtained by Lucas (2000), and an order of magnitude higher than those in Ireland (2009).
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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