一般来说,人们似乎都知道通货膨胀在经济中往往不是一件好事。这是有道理的,在某种程度上 – 通货膨胀是指价格上涨,而价格上涨通常被认为是一件坏事。然而,从技术上讲,如果不同商品和服务的价格一致上涨,如果工资随着价格上涨而上涨,并且如果名义利率根据通货膨胀的变化而调整,那么总价格水平的上涨就不一定特别成问题。 (换句话说,通货膨胀不一定会降低消费者的实际购买力。)然而,从经济角度来看,通货膨胀的成本是相关的,并且不容易避免。当价格在很长一段时间内保持不变时,企业可以从中获益,因为他们不需要担心改变产量的价格。另一方面,当价格随时间变化时,企业最好还是要改变价格以跟上价格的总体趋势,因为这将是利润最大化的策略。不幸的是,改变价格通常不是无成本的,因为改变价格需要打印新菜单,重新贴标签等等。这些成本被称为,并且公司必须决定是否以不利润最大化的价格运营或者产生价格变化所涉及的菜单成本。无论哪种方式,公司都承担着非常实际的通货膨胀成本。虽然公司是直接招致菜单成本的公司,但鞋类皮革成本直接影响所有货币持有者。当存在通货膨胀时,持有现金(或在无息存款账户中持有资产)存在实际成本,因为现金不会像今天那样购买尽可能多的现金。因此,公民有动力尽可能少地保留现金,这意味着他们必须经常去ATM或以其他方式转账。术语鞋类皮革成本是指由于到银行的次数增加而更频繁地更换鞋子的比喻成本,但是鞋类皮革成本是非常真实的现象。在通货膨胀相对较低的经济体中,Shoeleather成本并不是一个严重的问题,但它们在经历恶性通货膨胀的经济体中变得非常重要。在这些情况下,公民通常更愿意将其资产保留为外国货币而非本地货币,这也消耗了不必要的时间和精力。当通货膨胀发生并且不同商品和服务的价格以不同的速率上涨时,某些商品和服务在相对意义上变得更便宜或更昂贵。反过来,这些相对价格扭曲会影响对不同商品和服务的资源分配,如果相对价格保持稳定则不会发生这种情况。意外的通货膨胀可以用来重新分配经济中的财富,因为并非所有的投资和债务都与通货膨胀挂钩。高于预期的通货膨胀使得债务的实际价值降低,但同时也使得资产的实际回报率降低。因此,意外的通货膨胀会伤害投资者并使那些负债累累的人受益。这可能不是政策制定者想要在经济中创造的动力,因此它可以被视为另一个通胀的小块。在美国,有许多税收不会自动适应通货膨胀。例如,资本利得税是根据资产价值的绝对增长而不是通货膨胀调整后的价值增长来计算的。因此,当存在通货膨胀时,对资本收益的有效税率可能远高于所述的名义利率。同样,通货膨胀会增加利息收入的有效税率。即使价格和工资足够灵活以适应通货膨胀,通货膨胀仍然使得多年来货币数量的比较比实际情况更加困难。鉴于人们和公司希望充分了解他们的工资,资产和债务如何随着时间的推移而发展,通货膨胀使其更难以这样做的事实可以被视为通货膨胀的另一个成本。

新西兰梅西大学经济学Assignment代写:通货膨胀的优势

In general, people seem to know that inflation is often not a good thing in the economy. This makes sense, to some extent – inflation refers to price increases, and price increases are often considered a bad thing. However, technically, if the prices of different goods and services rise in unison, if wages rise as prices rise, and if nominal interest rates are adjusted according to changes in inflation, then the rise in total price levels is not necessarily a problem. . (In other words, inflation does not necessarily reduce the actual purchasing power of consumers.) However, from an economic perspective, the cost of inflation is relevant and not easy to avoid. When prices stay the same for a long time, companies can benefit because they don’t have to worry about changing the price of production. On the other hand, when prices change over time, it is best for companies to change prices to keep up with the overall price trend, as this will be a profit maximization strategy. Unfortunately, changing prices is usually not costless because changing prices requires printing new menus, relabeling, and more. These costs are called, and the company must decide whether to operate at a price that is not profit maximized or to generate menu costs involved in price changes. Either way, the company is taking on very real inflation costs. Although the company is a company that directly incurs menu costs, the cost of footwear leather directly affects all currency holders. When there is inflation, there is a real cost of holding cash (or holding assets in a interest-free deposit account) because cash does not buy as much cash as it does today. As a result, citizens have the incentive to keep cash as little as possible, which means they must often go to the ATM or otherwise transfer money. The term footwear leather cost refers to the metaphorical cost of changing shoes more frequently due to the increased number of times to the bank, but the cost of footwear leather is a very real phenomenon. In economies with relatively low inflation, Shoeleather costs are not a serious problem, but they become very important in economies that experience hyperinflation. In these cases, citizens are generally more willing to keep their assets as foreign currencies rather than local currencies, which also consumes unnecessary time and effort. Certain industries and services become cheaper or more expensive in a relative sense when inflation occurs and prices of different goods and services rise at different rates. These relative price distortions, in turn, affect the allocation of resources to different goods and services, which would not happen if the relative price remained stable. Unexpected inflation can be used to redistribute wealth in the economy because not all investments and debts are linked to inflation. Higher-than-expected inflation reduces the actual value of debt, but it also reduces the actual rate of return on assets. As a result, unexpected inflation can hurt investors and benefit those who are heavily in debt. This may not be the motivation that policymakers want to create in the economy, so it can be seen as another piece of inflation. In the United States, many taxes do not automatically adapt to inflation. For example, capital gains tax is calculated based on the absolute increase in the value of the asset rather than the adjusted value increase in inflation. Therefore, when there is inflation, the effective tax rate on capital gains may be much higher than the nominal interest rate. Similarly, inflation increases the effective tax rate on interest income. Even if prices and wages are flexible enough to accommodate inflation, inflation still makes the comparison of the amount of money over the years more difficult than it actually is. Given the fact that people and companies want to fully understand their wages, how assets and debts develop over time, the fact that inflation makes it more difficult to do so can be seen as another cost of inflation.

发表评论

电子邮件地址不会被公开。 必填项已用*标注