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Inflation, welfare and public goods

Author

Listed:
  • BLOISE, Gaetano

    (Center for Operations Research and Econometrics (CORE), Université catholique de Louvain (UCL), Louvain la Neuve, Belgium)

  • CURRARINI, Sergio

    (Center for Operations Research and Econometrics (CORE), Université catholique de Louvain (UCL), Louvain la Neuve, Belgium)

  • KIKIDIS, Nicholas

    (Center for Operations Research and Econometrics (CORE), Université catholique de Louvain (UCL), Louvain la Neuve, Belgium)

Abstract

In this paper we study the welfare effects of monetary policy in a simple overlapping generation economy in which agents voluntary contribute to a public good. Inflation has two effects at equilibrium: it increases voluntary contributions and it misallocates private consumption across time. We show that the aggregate effect is welfare improving for “not too high” inflation rates. Moreover, there exists an optimal inflation rate

Suggested Citation

  • BLOISE, Gaetano & CURRARINI, Sergio & KIKIDIS, Nicholas, 1998. "Inflation, welfare and public goods," LIDAM Discussion Papers CORE 1998037, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1998037
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    File URL: https://sites.uclouvain.be/core/publications/coredp/coredp1998.html
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    Cited by:

    1. Eisei Ohtaki, 2023. "Climate change and monetary policy," Working Papers e176, Tokyo Center for Economic Research.
    2. Eisei Ohtaki, 2023. "Climate change, financial intermediation, and monetary policy," Working Papers e179, Tokyo Center for Economic Research.
    3. Eisei Ohtaki, 2023. "Does climate change lead financial instability?: A benchmark result," Working Papers e175, Tokyo Center for Economic Research.

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