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• W4313252604 abstract "This paper uses neoclassical demand theory to calculate the welfare costs of inflation. It considers the demand interactions between money, consumption goods, and leisure, relaxes the assumption of fixed consumer preferences, and addresses the inter-related problems of estimation of money demand functions, instability of money demand relations, and monetary aggregation. It makes full use of the relevant economic theory and econometrics and generates inference in terms of long-run welfare costs of inflation that is internally consistent with the data and models used." @default.
• W4313252604 created "2023-01-06" @default.
• W4313252604 creator A5048695124 @default.
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• W4313252604 date "2023-03-01" @default.
• W4313252604 modified "2023-09-26" @default.
• W4313252604 title "Consumer preferences, the demand for Divisia money, and the welfare costs of inflation" @default.
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• W4313252604 doi "https://doi.org/10.1016/j.jmacro.2022.103490" @default.
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