An intra-household approach to the welfare costs of inflation
Autor(a) principal: | |
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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/10438/867 |
Resumo: | The literature on the welfare costs of in‡ation universally assumes that the many-person household can be treated as a single economic agent. This paper explores what the heterogeneity of the agents in a household might imply for such welfare analyses. First, we show that allowing for a single-unity or for a multi-unity transacting technology impacts the money demand function and, therefore, the welfare costs of in‡ation. Second, we derive su¢cient conditions that make the welfare assessments which depart directly from the knowledge of the money demand function (as in Lucas (2000)) robust under this alternative setting. Third, we compare our general-equilibrium measure with Bailey’s (1956) partial-equilibrium one. |
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Cysne, Rubens PenhaEscolas::EPGEFGV2008-05-13T15:38:09Z2008-05-13T15:38:09Z2004-01-010104-8910http://hdl.handle.net/10438/867The literature on the welfare costs of in‡ation universally assumes that the many-person household can be treated as a single economic agent. This paper explores what the heterogeneity of the agents in a household might imply for such welfare analyses. First, we show that allowing for a single-unity or for a multi-unity transacting technology impacts the money demand function and, therefore, the welfare costs of in‡ation. Second, we derive su¢cient conditions that make the welfare assessments which depart directly from the knowledge of the money demand function (as in Lucas (2000)) robust under this alternative setting. Third, we compare our general-equilibrium measure with Bailey’s (1956) partial-equilibrium one.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;521An intra-household approach to the welfare costs of inflationinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaEconomiaInflação - Brasilreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessORIGINAL1527.pdfapplication/pdf204362https://repositorio.fgv.br/bitstreams/0bb0ab0c-04a9-467a-a7ce-e12c71f885e0/downloadd1ba8c55ce284ef7b713a0ca045f3965MD512014.pdfapplication/pdf145042https://repositorio.fgv.br/bitstreams/22f0bfbc-1eca-40c0-bc0e-3e507016a78f/downloade32bfdc3938fa2102da373e5cc13c903MD52TEXT1527.pdf.txt1527.pdf.txtExtracted texttext/plain34628https://repositorio.fgv.br/bitstreams/c829953c-b4ca-45e0-9294-c30fa5d6213c/download3b52686ffbc70a3a25f305d57d3db7aeMD5142014.pdf.txt2014.pdf.txtExtracted texttext/plain31434https://repositorio.fgv.br/bitstreams/59bc475c-3ff1-4668-9581-283119ad1728/downloadccb97b1be8505fd61ad37994c8c23528MD516THUMBNAIL1527.pdf.jpg1527.pdf.jpgGenerated Thumbnailimage/jpeg3185https://repositorio.fgv.br/bitstreams/fa784644-2586-4712-9ffe-1416fece5058/download6b87f9949d7a9003fe14e1d8ccdc1b4bMD5152014.pdf.jpg2014.pdf.jpgGenerated Thumbnailimage/jpeg3987https://repositorio.fgv.br/bitstreams/1df82408-46d1-4639-a7f6-3fa10165d95d/downloadb3f5274146da6d2cde01b37b445bba90MD51710438/8672023-11-09 21:45:19.398open.accessoai:repositorio.fgv.br:10438/867https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T21:45:19Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false |
dc.title.eng.fl_str_mv |
An intra-household approach to the welfare costs of inflation |
title |
An intra-household approach to the welfare costs of inflation |
spellingShingle |
An intra-household approach to the welfare costs of inflation Cysne, Rubens Penha Economia Economia Inflação - Brasil |
title_short |
An intra-household approach to the welfare costs of inflation |
title_full |
An intra-household approach to the welfare costs of inflation |
title_fullStr |
An intra-household approach to the welfare costs of inflation |
title_full_unstemmed |
An intra-household approach to the welfare costs of inflation |
title_sort |
An intra-household approach to the welfare costs of inflation |
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 Economia Inflação - Brasil |
dc.subject.bibliodata.por.fl_str_mv |
Economia Inflação - Brasil |
description |
The literature on the welfare costs of in‡ation universally assumes that the many-person household can be treated as a single economic agent. This paper explores what the heterogeneity of the agents in a household might imply for such welfare analyses. First, we show that allowing for a single-unity or for a multi-unity transacting technology impacts the money demand function and, therefore, the welfare costs of in‡ation. Second, we derive su¢cient conditions that make the welfare assessments which depart directly from the knowledge of the money demand function (as in Lucas (2000)) robust under this alternative setting. Third, we compare our general-equilibrium measure with Bailey’s (1956) partial-equilibrium one. |
publishDate |
2004 |
dc.date.issued.fl_str_mv |
2004-01-01 |
dc.date.accessioned.fl_str_mv |
2008-05-13T15:38:09Z |
dc.date.available.fl_str_mv |
2008-05-13T15:38:09Z |
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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article |
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publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/867 |
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0104-8910 |
identifier_str_mv |
0104-8910 |
url |
http://hdl.handle.net/10438/867 |
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eng |
language |
eng |
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Ensaios Econômicos;521 |
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info:eu-repo/semantics/openAccess |
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openAccess |
dc.publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
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Escola de Pós-Graduação em Economia da FGV |
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