How Inflation Affects Macroeconomic Performance: An Agent-Based Computational Investigation
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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
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美国国家经济研究局创建时间：
2012-07-01
