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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: http://orca.cf.ac.uk/id/eprint/44430

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