The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation

PricingMonetary
Written By Rowdy Ferret Design

The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation (with Emi Nakamura, Patrick Sun, and Daniel Villar)

Quarterly Journal of Economics, 133(4), 1933-1980, November 2018.

Appendix -- Slides -- ELI Concordance -- Replication Material -- 

Evidence on the size of price changes indicates that price dispersion was no higher during the Great Inflation than in recent years. This suggests that the standard New Keynesian analysis of the welfare costs of inflation is wrong and its implications for the optimal inflation rate need to be reassessed.

Rowdy Ferret Design

Oakland based web designer and developer.

Loves long walks in the woods and barbeque.

http://rowdyferretdesign.com
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