41-52

• Kimbrough, Kent
• Σπυριδόπουλος, Ιωάννης

This paper measures the welfare cost of inflation for the case of Greece, using quarterly data for the period 1980Q1-1999Q4. Log-log and semi-log money demand functions are estimated using both OLS and Stock and Watson’s (1993) dynamic OLS method. These estimates show the welfare cost of a 10 percent inflation rate in the range of 0.59 percent to 0.91 percent of GDP.

• Economics and Business
• Computer and information sciences

• Economics
• Statistics

welfare cost of inflation, inflation tax, inflation

Περιέχει πίνακες, διαγράμματα και βιβλιογραφία, We are thankful to Dr. George Tavlas and Mr Pavlos Petroulas for their contribution to this paper, as well as two anonymous referees for their helpful comments., JEL Classification: E52

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