The welfare cost of inflation in Canada and the United States

被引：24

作者：

Serletis, A ^{[1
]}

Yavari, K ^{[1
]}

机构：

[1] Univ Calgary, Dept Econ, Calgary, AB T2N 1N4, Canada

来源：

ECONOMICS LETTERS | 2004年 / 84卷 / 02期

关键词：

integration; cointegration; long-run derivative; interest elasticity;

D O I：

10.1016/j.econlet.2004.02.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper follows Lucas (Econometrica 68 (2000) 247) and estimates the welfare cost of inflation in the post-World War II Canadian and U.S. economies. We use recent advances in the field of applied econometrics to estimate the interest elasticity of money demand and report significantly smaller welfare costs estimates than Lucas (Econometrica 68 (2000) 247). (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：199 / 204

页数：6