Inflation, output, and welfare in the laboratory / by Janet Hua Jiang, Daniela Puzzello and Cathy Zhang.: FB3-5/2023-11E-PDF
"We develop an experimental framework to investigate the quantity theory of money and the real effects of inflation in an economy where money serves as a medium of exchange. We test the classical view that inflation reduces output and welfare by taxing monetary exchange. Inflation is engineered by constant money growth. We conduct three treatments, where the newly issued money is used to finance government spending, lump-sum transfers, and proportional transfers, respectively"--Abstract.
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| Department/Agency | Bank of Canada, issuing body. |
|---|---|
| Title | Inflation, output, and welfare in the laboratory / by Janet Hua Jiang, Daniela Puzzello and Cathy Zhang. |
| Series title | Staff working paper = Document de travail du personnel, 1701-9397 ; 2023-11 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Format | Electronic |
| Electronic document | |
| Note(s) | "Last updated: February 13, 2023." Includes bibliographical references (pages 28-33). Includes abstract in French. |
| Publishing information | [Ottawa] : Bank of Canada = Banque du Canada, 2023. ©2023 |
| Author / Contributor | Jiang, Janet Hua, author. |
| Description | 1 online resource (ii, 53 pages) : charts. |
| Catalogue number |
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| Subject terms | Inflation (Finance) -- Canada. Monetary policy -- Canada. Inflation -- Canada. Politique monétaire -- Canada. |
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