| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18225 |
| 来源ID | Working Paper 18225 |
| How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation | |
| Quamrul Ashraf; Boris Gershman; Peter Howitt | |
| 发表日期 | 2012-07-13 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We use an agent-based computational approach to show how inflation can worsen macroeconomic performance by disrupting the mechanism of exchange in a decentralized market economy. We find that increasing the trend rate of inflation above 3 percent has a substantial deleterious effect, but lowering it below 3 percent has no significant macroeconomic consequences. Our finding remains qualitatively robust to changes in parameter values and to modifications to our model that partly address the Lucas critique. Finally, we contribute a novel explanation for why cross-country regressions may fail to detect a significant negative effect of trend inflation on output even when such an effect exists in reality. |
| 主题 | Microeconomics ; Mathematical Tools ; Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w18225 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575901 |
| 推荐引用方式 GB/T 7714 | Quamrul Ashraf,Boris Gershman,Peter Howitt. How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18225.pdf（474KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
