; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "The Welfare Costs of Inflation"; ; "kate.s.hansel@mpls.frb.org"; "Federal Reserve Bank of Minneapolis"; "Money demand", "Lower bound on interest rates"; "E41 - Demand for Money", "E43 - Interest Rates: Determination, Term Structure, and Effects", "E52 - Monetary Policy"; "We revisit the estimation of the welfare costs of inflation originating from lack of liquidity satiation. We use data for the United States and several other developed countries. Our computations are heavily influenced by the recent experience of very low, even negative, short-term rates observed in the countries we study. We obtain estimates that range between 0.20% and 1.5% of lifetime consumption for the United States and find even higher values for some European countries."^^; "2021-09-24"; "2021-09-24T20:47:58.659363903+00:00"^^; "https://doi.org/10.21034/wp.783"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2023-03-01T16:27:22.090804068+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "65", "562"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "783"; "Lower bound on interest rates", "Money demand"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "[Online Appendix](https://doi.org/10.21034/wp.784 \"Online Appendix\")"^^; ; "Publication" . ; .