Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/242864 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
Discussion Papers No. 21-13
Verlag: 
University of Bern, Department of Economics, Bern
Zusammenfassung: 
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).
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