Monetary dynamics in a general equilibrium version of the Baumol-Tobin model

Detalhes bibliográficos
Autor(a) principal: Silva, André de Castro
Data de Publicação: 2004
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12621
Resumo: I study the welfare cost of inflation and the effect on prices after a permanent increase in the interest rate. In the steady state, the real money demand is homogeneous of degree one in income and its interest-rate elasticity is approximately equal to −1/2. Consumers are indifferent between an economy with 10% p.a. inflation and one with zero inflation if their income is 1% higher in the first economy. A permanent increase in the interest rate makes the price level to drop initially and inflation to adjust slowly to its steady state level.
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spelling Silva, André de CastroEscolas::EPGEFGV2014-11-26T13:33:57Z2014-11-26T13:33:57Z2004-08-26http://hdl.handle.net/10438/12621I study the welfare cost of inflation and the effect on prices after a permanent increase in the interest rate. In the steady state, the real money demand is homogeneous of degree one in income and its interest-rate elasticity is approximately equal to −1/2. Consumers are indifferent between an economy with 10% p.a. inflation and one with zero inflation if their income is 1% higher in the first economy. A permanent increase in the interest rate makes the price level to drop initially and inflation to adjust slowly to its steady state level.engEscola de Pós-Graduação em Economia da FGVSeminários de pesquisa econômica da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessMonetary dynamics in a general equilibrium version of the Baumol-Tobin modelinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaPolítica monetáriaInflaçãoreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL1687.pdf1687.pdfapplication/pdf476990https://repositorio.fgv.br/bitstreams/73153ffa-7364-4788-85a0-af43e23708e0/download23bdc062cf1c64e3434a39374d4ce5d4MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/f0e42447-6c60-498c-ba54-832591b65120/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT1687.pdf.txt1687.pdf.txtExtracted 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dc.title.eng.fl_str_mv Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
title Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
spellingShingle Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
Silva, André de Castro
Economia
Política monetária
Inflação
title_short Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
title_full Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
title_fullStr Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
title_full_unstemmed Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
title_sort Monetary dynamics in a general equilibrium version of the Baumol-Tobin model
author Silva, André de Castro
author_facet Silva, André de Castro
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Silva, André de Castro
dc.subject.area.por.fl_str_mv Economia
topic Economia
Política monetária
Inflação
dc.subject.bibliodata.por.fl_str_mv Política monetária
Inflação
description I study the welfare cost of inflation and the effect on prices after a permanent increase in the interest rate. In the steady state, the real money demand is homogeneous of degree one in income and its interest-rate elasticity is approximately equal to −1/2. Consumers are indifferent between an economy with 10% p.a. inflation and one with zero inflation if their income is 1% higher in the first economy. A permanent increase in the interest rate makes the price level to drop initially and inflation to adjust slowly to its steady state level.
publishDate 2004
dc.date.issued.fl_str_mv 2004-08-26
dc.date.accessioned.fl_str_mv 2014-11-26T13:33:57Z
dc.date.available.fl_str_mv 2014-11-26T13:33:57Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/12621
url http://hdl.handle.net/10438/12621
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Seminários de pesquisa econômica da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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collection Repositório Institucional do FGV (FGV Repositório Digital)
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