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Cited by 833

The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.

The Inflation Tax in a Real Business Cycle Model

Cooley, Thomas, Hansen, Gary·1998·Real Business Cycles
DOI 10.4324/9780203070710.ch11
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Abstract

Money is incorporated into a real business cycle model using a cash-in-advance constraint. The model is used to analyze whether the business cycle is different in high-inflation and low-inflation economies and to analyze the impact of variability in the growth rate of money. The welfare cost of the inflation tax is measured and the steady-state properties of high and low inflation economies are compared. The welfare cost of a sustained (10 percent) inflation is estimated to be between 0.11 percent and 0.4 percent of GNP. The features of the business cycle are the same in high and low inflation economies, but the steady-state paths may be quite different. Copyright 1989 by American Economic Association.

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Metadata

Authors
Cooley, T., & Hansen, G.
Venue
Real Business Cycles
Publisher
Routledge
Published
1998-06-26
Pages
200-215
DOI
10.4324/9780203070710.ch11
OpenAlex
W1513601948
Cited by
833
References
2
FWCI
184.72
Type
book chapter
Language
en
Open access
closed

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CoChat. (2026). Citation check: The Inflation Tax in a Real Business Cycle Model. https://app.cochat.ai/papers/10.4324/9780203070710.ch11
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Cooley, T., & Hansen, G. (1998). The Inflation Tax in a Real Business Cycle Model. Real Business Cycles. https://doi.org/10.4324/9780203070710.ch11

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.