Divisia indexes, money and welfare

Detalhes bibliográficos
Autor(a) principal: Cysne, Rubens Penha
Data de Publicação: 2000
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/616
Resumo: We suggest the use of a particular Divisia index for measuring welfare losses due to interest rate wedges and in‡ation. Compared to the existing options in the literature: i) when the demands for the monetary assets are known, closed-form solutions for the welfare measures can be obtained at a relatively lower algebraic cost; ii) less demanding integrability conditions allow for the recovery of welfare measures from a larger class of demand systems and; iii) when the demand speci…cations are not known, using an index number entitles the researcher to rank di¤erent vectors of opportunity costs directly from market observations. We use two examples to illustrate the method.
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spelling Cysne, Rubens PenhaEscolas::EPGEFGV2008-05-13T15:28:10Z2010-09-23T18:58:35Z2008-05-13T15:28:10Z2010-09-23T18:58:35Z2000-07-010104-8910http://hdl.handle.net/10438/616We suggest the use of a particular Divisia index for measuring welfare losses due to interest rate wedges and in‡ation. Compared to the existing options in the literature: i) when the demands for the monetary assets are known, closed-form solutions for the welfare measures can be obtained at a relatively lower algebraic cost; ii) less demanding integrability conditions allow for the recovery of welfare measures from a larger class of demand systems and; iii) when the demand speci…cations are not known, using an index number entitles the researcher to rank di¤erent vectors of opportunity costs directly from market observations. We use two examples to illustrate the method.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;396Divisia indexes, money and welfareinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaBem-estar econômicoTaxas de jurosInflaçãoreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTHUMBNAIL1242.pdf.jpg1242.pdf.jpgGenerated Thumbnailimage/jpeg4011https://repositorio.fgv.br/bitstreams/2dd3006c-243f-4338-8b70-5c1bd882ef2a/download65fe392ed315bd321aadd503b2fa80d9MD58ORIGINAL1242.pdfapplication/pdf384433https://repositorio.fgv.br/bitstreams/61701254-f906-4136-99da-65dc7bcf0e7e/downloadb1551652a6f2399ad691d9c39e00b093MD52TEXT1242.pdf.txt1242.pdf.txtExtracted texttext/plain58852https://repositorio.fgv.br/bitstreams/e40b4495-50da-435f-8398-160b055ada73/downloadf16e5e16a45bfa246088fa3d4221dd61MD5710438/6162023-11-09 22:28:03.339open.accessoai:repositorio.fgv.br:10438/616https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T22:28:03Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false
dc.title.eng.fl_str_mv Divisia indexes, money and welfare
title Divisia indexes, money and welfare
spellingShingle Divisia indexes, money and welfare
Cysne, Rubens Penha
Economia
Bem-estar econômico
Taxas de juros
Inflação
title_short Divisia indexes, money and welfare
title_full Divisia indexes, money and welfare
title_fullStr Divisia indexes, money and welfare
title_full_unstemmed Divisia indexes, money and welfare
title_sort Divisia indexes, money and welfare
author Cysne, Rubens Penha
author_facet Cysne, Rubens Penha
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 Cysne, Rubens Penha
dc.subject.area.por.fl_str_mv Economia
topic Economia
Bem-estar econômico
Taxas de juros
Inflação
dc.subject.bibliodata.por.fl_str_mv Bem-estar econômico
Taxas de juros
Inflação
description We suggest the use of a particular Divisia index for measuring welfare losses due to interest rate wedges and in‡ation. Compared to the existing options in the literature: i) when the demands for the monetary assets are known, closed-form solutions for the welfare measures can be obtained at a relatively lower algebraic cost; ii) less demanding integrability conditions allow for the recovery of welfare measures from a larger class of demand systems and; iii) when the demand speci…cations are not known, using an index number entitles the researcher to rank di¤erent vectors of opportunity costs directly from market observations. We use two examples to illustrate the method.
publishDate 2000
dc.date.issued.fl_str_mv 2000-07-01
dc.date.accessioned.fl_str_mv 2008-05-13T15:28:10Z
2010-09-23T18:58:35Z
dc.date.available.fl_str_mv 2008-05-13T15:28:10Z
2010-09-23T18:58:35Z
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/616
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/616
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;396
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
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
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