{"id":"W3121780699","doi":"10.34989/swp-2007-39","title":"Liquidity, Redistribution, and the Welfare Cost of Inflation","year":2021,"lang":"en","type":"preprint","venue":"RePEc: Research Papers in Economics","topic":"Economic theories and models","field":"Economics, Econometrics and Finance","cited_by":7,"is_retracted":false,"has_abstract":true,"ca_institutions":"Bank of Canada","funders":"","keywords":"Market liquidity; Economics; Inflation (cosmology); Monetary economics; Welfare; Liquidity crisis; Liquidity trap; Liquidity risk; Inflation tax; Friedman rule; Accounting liquidity; Liquidity constraint; Monetary policy; Market economy","routes":{"ca_aff":true,"ca_fund":false,"ca_venue":false,"about_ca":true,"invisible_to_affiliation_only":false},"retraction":null,"screen":null,"direct_labels":[],"prediction":{"model_version":"metacan-v3-hybrid-931329e0061c","candidate_categories":[],"consensus_categories":[],"category_scores_codex":[0.0006013182,0.0002475931,0.0003866791,0.0003838306,0.0003720392,0.001288627,0.0004069304,0.0008664502,0.00375054],"category_scores_gemma":[0.002758488,0.0002109267,0.0004042147,0.0004017391,0.001039072,0.001575029,0.000843684,0.00101009,0.0001406358],"about_ca_system_candidate":false,"about_ca_system_consensus":false,"about_ca_system_score_codex":0.001737528,"about_ca_system_score_gemma":0.0008172873,"about_ca_topic_candidate":false,"about_ca_topic_consensus":false,"about_ca_topic_score_codex":0.002136556,"about_ca_topic_score_gemma":0.002070369,"domain_scores_codex":[0.9996622,0.000150224,0.000008378141,0.00003153416,0.000041149,0.0001066187],"domain_scores_gemma":[0.9988631,0.0006818861,0.0002425498,0.00007200319,0.00006105973,0.00007933036],"domain_codex":null,"domain_gemma":null,"domain_candidate":null,"domain_consensus":null,"study_design_codex":"theoretical_or_conceptual","study_design_gemma":"theoretical_or_conceptual","study_design_scores_codex":[0.0004753468,0.0003499597,0.01426779,0.0001581714,0.0001771228,0.0006130578,0.0002698449,0.3741233,0.002955004,0.5700348,0.003794495,0.03278109],"study_design_scores_gemma":[0.0001091202,0.000243049,0.01408581,0.00009130735,0.0001452388,0.0003735884,0.0005242428,0.4013803,0.001084338,0.5771577,0.004756588,0.00004858245],"study_design_candidate":"theoretical_or_conceptual","study_design_consensus":"theoretical_or_conceptual","genre_codex":"empirical","genre_gemma":"empirical","genre_scores_codex":[0.9019864,0.001358117,0.05457845,0.005799754,0.00008029526,0.00003778723,0.0002955832,0.0000881935,0.0357753],"genre_scores_gemma":[0.9956162,0.000390908,0.0009033157,0.00009421098,0.00002926584,0.00001515635,0.00003891819,0.000008882676,0.002903115],"genre_candidate":"empirical","genre_consensus":"empirical","teacher_disagreement_score":0.00375054,"threshold_uncertainty_score":0.01260674,"prediction_status":"machine_predicted_unvalidated"},"machine_scores":{"provisional":true,"baseline":true,"maturity_gate_passed":false,"score_opus":0.03841502849679412,"score_gpt":0.2804501922984377,"score_spread":0.2420351638016436,"validation_status":"score_only:v0-immature-baseline","note":"Baseline scores from an immature model (maturity gate not passed). Scores rank; they never assert a category."}}