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The Welfare Costs of Moderate Inflations Thomas F. Cooley; Gary D. Hansen Journal of Money, Credit and Banking, Vol. 23, No. 3, Part 2: Price Stability. (Aug., 1991), pp. 483-503. Stable URL: http://links.jstor.org/sici?sici=0022-2879%28199108%2923%3A3%3C483%3ATWCOMI%3E2.0.CO%3B2-T Journal of Money, Credit and Banking is currently published by Ohio State University Press. Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/ohio.press.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact [email protected]. http://www.jstor.org Tue Dec 19 15:51:39 2006

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Page 1: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare

The Welfare Costs of Moderate Inflations

Thomas F. Cooley; Gary D. Hansen

Journal of Money, Credit and Banking, Vol. 23, No. 3, Part 2: Price Stability. (Aug., 1991), pp.483-503.

Stable URL:

http://links.jstor.org/sici?sici=0022-2879%28199108%2923%3A3%3C483%3ATWCOMI%3E2.0.CO%3B2-T

Journal of Money, Credit and Banking is currently published by Ohio State University Press.

Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available athttp://www.jstor.org/about/terms.html. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtainedprior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content inthe JSTOR archive only for your personal, non-commercial use.

Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained athttp://www.jstor.org/journals/ohio.press.html.

Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printedpage of such transmission.

JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. Formore information regarding JSTOR, please contact [email protected].

http://www.jstor.orgTue Dec 19 15:51:39 2006

Page 2: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 3: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 4: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 5: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 6: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 7: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 8: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 9: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 10: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 11: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 12: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
Page 13: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare
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Page 23: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare

You have printed the following article:

The Welfare Costs of Moderate InflationsThomas F. Cooley; Gary D. HansenJournal of Money, Credit and Banking, Vol. 23, No. 3, Part 2: Price Stability. (Aug., 1991), pp.483-503.Stable URL:

http://links.jstor.org/sici?sici=0022-2879%28199108%2923%3A3%3C483%3ATWCOMI%3E2.0.CO%3B2-T

This article references the following linked citations. If you are trying to access articles from anoff-campus location, you may be required to first logon via your library web site to access JSTOR. Pleasevisit your library's website or contact a librarian to learn about options for remote access to JSTOR.

[Footnotes]

3 The Inflation Tax in a Real Business Cycle ModelThomas F. Cooley; Gary D. HansenThe American Economic Review, Vol. 79, No. 4. (Sep., 1989), pp. 733-748.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198909%2979%3A4%3C733%3ATITIAR%3E2.0.CO%3B2-F

8 Time to Build and Aggregate FluctuationsFinn E. Kydland; Edward C. PrescottEconometrica, Vol. 50, No. 6. (Nov., 1982), pp. 1345-1370.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198211%2950%3A6%3C1345%3ATTBAAF%3E2.0.CO%3B2-E

15 The Welfare Cost of Factor Taxation in a Perfect-Foresight ModelKenneth L. JuddThe Journal of Political Economy, Vol. 95, No. 4. (Aug., 1987), pp. 675-709.Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198708%2995%3A4%3C675%3ATWCOFT%3E2.0.CO%3B2-H

Literature Cited

http://www.jstor.org

LINKED CITATIONS- Page 1 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.

Page 24: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare

Corporate Taxation in the United StatesAlan J. Auerbach; Henry J. Aaron; Robert E. HallBrookings Papers on Economic Activity, Vol. 1983, No. 2. (1983), pp. 451-513.Stable URL:

http://links.jstor.org/sici?sici=0007-2303%281983%291983%3A2%3C451%3ACTITUS%3E2.0.CO%3B2-G

Average Marginal Tax Rates from Social Security and the Individual Income TaxRobert J. Barro; Chaipat SahasakulThe Journal of Business, Vol. 59, No. 4, Part 1. (Oct., 1986), pp. 555-566.Stable URL:

http://links.jstor.org/sici?sici=0021-9398%28198610%2959%3A4%3C555%3AAMTRFS%3E2.0.CO%3B2-A

Optimal Taxation of Capital Income in General Equilibrium with Infinite LivesChristophe ChamleyEconometrica, Vol. 54, No. 3. (May, 1986), pp. 607-622.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198605%2954%3A3%3C607%3AOTOCII%3E2.0.CO%3B2-N

The Inflation Tax in a Real Business Cycle ModelThomas F. Cooley; Gary D. HansenThe American Economic Review, Vol. 79, No. 4. (Sep., 1989), pp. 733-748.Stable URL:

http://links.jstor.org/sici?sici=0002-8282%28198909%2979%3A4%3C733%3ATITIAR%3E2.0.CO%3B2-F

Estimates of Effective Marginal Tax Rates on Factor IncomesDouglas H. JoinesThe Journal of Business, Vol. 54, No. 2. (Apr., 1981), pp. 191-226.Stable URL:

http://links.jstor.org/sici?sici=0021-9398%28198104%2954%3A2%3C191%3AEOEMTR%3E2.0.CO%3B2-Q

The Welfare Cost of Factor Taxation in a Perfect-Foresight ModelKenneth L. JuddThe Journal of Political Economy, Vol. 95, No. 4. (Aug., 1987), pp. 675-709.Stable URL:

http://links.jstor.org/sici?sici=0022-3808%28198708%2995%3A4%3C675%3ATWCOFT%3E2.0.CO%3B2-H

http://www.jstor.org

LINKED CITATIONS- Page 2 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.

Page 25: The Welfare Costs of Moderate Inflations Thomas F. Cooley ...people.stern.nyu.edu/tcooley/papers/the_wel_cos_of_mod_inf.pdf · You have printed the following article: The Welfare

Time to Build and Aggregate FluctuationsFinn E. Kydland; Edward C. PrescottEconometrica, Vol. 50, No. 6. (Nov., 1982), pp. 1345-1370.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198211%2950%3A6%3C1345%3ATTBAAF%3E2.0.CO%3B2-E

Money and Interest in a Cash-in-Advance EconomyRobert E. Lucas, Jr.; Nancy L. StokeyEconometrica, Vol. 55, No. 3. (May, 1987), pp. 491-513.Stable URL:

http://links.jstor.org/sici?sici=0012-9682%28198705%2955%3A3%3C491%3AMAIIAC%3E2.0.CO%3B2-%23

http://www.jstor.org

LINKED CITATIONS- Page 3 of 3 -

NOTE: The reference numbering from the original has been maintained in this citation list.