An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits

Detalhes bibliográficos
Autor(a) principal: Cysne, Rubens Penha
Data de Publicação: 2007
Outros Autores: Turchick, David
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/396
Resumo: This paper builds on Lucas (2000) and on Cysne (2003) to derive and order six alternative measures of the welfare costs of inflation (five of which already existing in the literature) for any vector of opportunity costs. The ordering of the functions is carried out for economies with or without interestbearing deposits. We provide examples and closed-form solutions for the log-log money demand both in the unidimensional and in the multidimensional setting (when interest-bearing monies are present). An estimate of the maximum relative error a researcher can incur when using any particular measure is also provided.
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spelling Cysne, Rubens PenhaTurchick, DavidEscolas::EPGEFGV2008-05-13T15:23:27Z2008-05-13T15:23:27Z2007-12-010104-8910http://hdl.handle.net/10438/396This paper builds on Lucas (2000) and on Cysne (2003) to derive and order six alternative measures of the welfare costs of inflation (five of which already existing in the literature) for any vector of opportunity costs. The ordering of the functions is carried out for economies with or without interestbearing deposits. We provide examples and closed-form solutions for the log-log money demand both in the unidimensional and in the multidimensional setting (when interest-bearing monies are present). An estimate of the maximum relative error a researcher can incur when using any particular measure is also provided.engEscola de Pós-Graduação em EconomiaEnsaios Econômicos;659WelfareMoney demandInflationInterest-bearing assetsDivisia indexEconomiaEconomiaAn ordering of measures of the welfare cost of inflation in economies with interest-bearing depositsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINAL2248.pdfapplication/pdf467911https://repositorio.fgv.br/bitstreams/23c691e4-6f02-4fba-9f3d-87dd823ecf38/download88e08e3168889968e93699a71c819f50MD51TEXT2248.pdf.txt2248.pdf.txtExtracted texttext/plain47729https://repositorio.fgv.br/bitstreams/f3ac8841-a209-4dd8-81e2-4a173127fb41/download290210f35189578462325ad0857ea0a5MD56THUMBNAIL2248.pdf.jpg2248.pdf.jpgGenerated Thumbnailimage/jpeg3462https://repositorio.fgv.br/bitstreams/33429cfb-486a-433c-a1ca-9eb456ed3864/download159814ae388edea1e17a01679a7e2791MD5710438/3962023-11-09 16:12:10.614open.accessoai:repositorio.fgv.br:10438/396https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T16:12:10Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false
dc.title.eng.fl_str_mv An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
title An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
spellingShingle An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
Cysne, Rubens Penha
Welfare
Money demand
Inflation
Interest-bearing assets
Divisia index
Economia
Economia
title_short An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
title_full An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
title_fullStr An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
title_full_unstemmed An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
title_sort An ordering of measures of the welfare cost of inflation in economies with interest-bearing deposits
author Cysne, Rubens Penha
author_facet Cysne, Rubens Penha
Turchick, David
author_role author
author2 Turchick, David
author2_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
Turchick, David
dc.subject.eng.fl_str_mv Welfare
Money demand
topic Welfare
Money demand
Inflation
Interest-bearing assets
Divisia index
Economia
Economia
dc.subject.por.fl_str_mv Inflation
Interest-bearing assets
Divisia index
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia
description This paper builds on Lucas (2000) and on Cysne (2003) to derive and order six alternative measures of the welfare costs of inflation (five of which already existing in the literature) for any vector of opportunity costs. The ordering of the functions is carried out for economies with or without interestbearing deposits. We provide examples and closed-form solutions for the log-log money demand both in the unidimensional and in the multidimensional setting (when interest-bearing monies are present). An estimate of the maximum relative error a researcher can incur when using any particular measure is also provided.
publishDate 2007
dc.date.issued.fl_str_mv 2007-12-01
dc.date.accessioned.fl_str_mv 2008-05-13T15:23:27Z
dc.date.available.fl_str_mv 2008-05-13T15:23:27Z
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dc.identifier.issn.none.fl_str_mv 0104-8910
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url http://hdl.handle.net/10438/396
dc.language.iso.fl_str_mv eng
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dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;659
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
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia
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