The n-Dimensional Bailey-Divisia Measure as a General-Equilibrium Measure of the Welfare Costs of Inflation

Autor Principal: Cysne, Rubens Penha
Tipo: Technical Report
Idioma: en_US
Publicado em: Escola de Pós-Graduação em Economia da FGV 20110726
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This paper shows that in economies with several monies the Bailey-Divisia multidimensional consumers surplus formula may emerge as an exact general-equilibrium measure of the welfare costs of in ation, provided that preferences are quasilinear.