Optimality of exchange credit restrictions

Gillman, Max 1996. Optimality of exchange credit restrictions. [Working Paper]. Department of Economics - Working Papers Series, vol. 519. Melbourne: Department of Economics, The University of Melbourne.

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Abstract

The paper formalizes a conflict in the use of credit. As compared to using costless fiat, the consumer's use of credit wastes resources by avoiding the inflation tax through a costly means of exchange. This inefficiency gives lattitude for a planner to increase welfare by restricting exchange credit.

Item Type:	Monograph (Working Paper)
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > HB Economic Theory
Uncontrolled Keywords:	Credit; inflation; taxes; taxation
Publisher:	Department of Economics, The University of Melbourne
Last Modified:	19 Mar 2016 23:15
URI:	https://orca.cardiff.ac.uk/id/eprint/44430

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