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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.

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.920353&sl=0

Publication information
Department/Agency
  • Bank of Canada, issuing body.
TitleInflation, 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 typeMonograph - View Master Record
Language[English]
FormatDigital text
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.
Description1 online resource (ii, 53 pages) : charts.
Catalogue number
  • FB3-5/2023-11E-PDF
Subject terms
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