On the Markov switching welfare cost of inflation
Sign Up to like & getrecommendations! Published in 2019 at "Journal of Economic Dynamics and Control"
DOI: 10.1016/j.jedc.2019.103748
Abstract: Abstract This paper uses the Markov switching approach to account for instabilities in the long-run money demand function and compute the welfare cost of inflation in the United States. In doing so, it circumvents the… read more here.
Keywords: money demand; markov switching; cost inflation; welfare cost ... See more keywords
The welfare cost of inflation revisited: The role of financial innovation and household heterogeneity
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Monetary Economics"
DOI: 10.1016/j.jmoneco.2020.11.004
Abstract: Notre analyse demontre que le ratio monnaie-consommation augmente avec l’âge des menages et decroit avec la consommation, et que ce ratio a fortement augmente dans le contexte de tres bas taux d’interet des dernieres annees.… read more here.
Keywords: cost inflation; role financial; welfare cost; des effets ... See more keywords