On the welfare cost of inflation and the recent behavior of money demand

"Post-1980 U.S. data trace out a stable long-run money demand relationship of Cagan's semi-log form between the M1-income ratio and the nominal interest rate, with an interest semi-elasticity below 2. Integrating under this money demand curve yields estimates of the welfare costs of mode...

Ausführliche Beschreibung

Bibliographische Detailangaben

1. Verfasser:	Ireland, Peter N. (VerfasserIn)
Format:	UnknownFormat
Sprache:	eng
Veröffentlicht:	Cambridge, Mass. National Bureau of Economic Research 2008
Schriftenreihe:	NBER working paper series 14098
Schlagworte:	1900-2006 > Geldpolitik > Inflationsrate > Wohlfahrtsanalyse > Monetarismus > Zins > Geldnachfrage > USA > Arbeitspapier > Graue Literatur
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