Spring 1999

In This Edition

  • Inside the Vault article

    Looking at the Shoe-Leather Costs of Inflation

    When economists discuss the costs of inflation, they have specific concerns in mind. One consequence of inflation is that it imposes "shoe-leather" costs on society. Essentially, shoe-leather costs refer to the time and effort people take to minimize the effect of inflation on the eroding purchasing power of money.
  • Inside the Vault article
  • Inside the Vault article


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Fed in Print: An index of the economic research conducted by the Fed.