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U.S. money demand and the welfare cost of inflation in a currency-deposit model

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  • Bali, Turan G.
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    File URL: http://www.sciencedirect.com/science/article/B6V7T-4031648-1/2/c1267ae7274bfe489bfcc8f26c2a5c70
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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Economics and Business.

    Volume (Year): 52 (2000)
    Issue (Month): 3 ()
    Pages: 233-258

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    Handle: RePEc:eee:jebusi:v:52:y:2000:i:3:p:233-258

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    Web page: http://www.elsevier.com/locate/jeconbus

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    References

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    1. Joseph Daniels & David Hoose, 1996. "Reserve requirements, currency substitution, and seigniorage in the transition to European monetary union," Open Economies Review, Springer, vol. 7(3), pages 257-273, July.
    2. Fischer, Stanley, 1981. "Towards an understanding of the costs of inflation: II," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 15(1), pages 5-41, January.
    3. Robert E. Lucas Jr. & Nancy L. Stokey, 1982. "Optimal Fiscal and Monetary Policy in an Economy Without Capital," Discussion Papers 532, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    4. Alvin L. Marty, 1994. "The inflation tax and the marginal welfare cost in a world of currency and deposits," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 67-71.
    5. Driffill, John & Mizon, Grayham E. & Ulph, Alistair, 1990. "Costs of inflation," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 19, pages 1013-1066 Elsevier.
    6. Marty, Alvin L., 1976. "A note on the welfare cost of money creation," Journal of Monetary Economics, Elsevier, vol. 2(1), pages 121-124, January.
    7. Michael Dotsey & Peter Ireland, 1994. "The welfare cost of inflation in general equilibrium," Working Paper 94-04, Federal Reserve Bank of Richmond.
    8. McCallum, Bennett T., 1983. "The role of overlapping-generations models in monetary economics," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 18(1), pages 9-44, January.
    9. James Tobin, 1955. "A Dynamic Aggregative Model," Journal of Political Economy, University of Chicago Press, vol. 63, pages 103.
    10. Calvo, Guillermo A. & Fernandez, Roque B., 1983. "Competitive banks and the inflation tax," Economics Letters, Elsevier, vol. 12(3-4), pages 313-317.
    11. Rose, Andrew K, 1985. "An Alternative Approach to the American Demand for Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 17(4), pages 439-55, November.
    12. Hwang, Hae-shin, 1985. "Test of the Adjustment Process and Linear Homogeneity in a Stock Adjustment Model of Money Demand," The Review of Economics and Statistics, MIT Press, vol. 67(4), pages 689-92, November.
    13. Marty, Alvin L & Chaloupka, Frank J, 1988. "Optimal Inflation Rates: A Generalization," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(1), pages 141-44, February.
    14. Robert E. Lucas, Jr., 1994. "On the welfare cost of inflation," Working Papers in Applied Economic Theory 94-07, Federal Reserve Bank of San Francisco.
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    Cited by:
    1. Cysne, Rubens Penha & Turchick, David, 2010. "Welfare costs of inflation when interest-bearing deposits are disregarded: A calculation of the bias," Economics Working Papers (Ensaios Economicos da EPGE) 700, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
    2. Mushtaq, Siffat & Rashid, Abdul & Qayyum, Abdul, 2013. "On the Welfare Cost of Inflation: The Case of Pakistan," MPRA Paper 47549, University Library of Munich, Germany.
    3. Manjong Lee & Sung Guan Yun, 2014. "Composition of Portfolio and Cost of Inflation," Discussion Paper Series 1403, Institute of Economic Research, Korea University.
    4. C. Woo & J. Zarnikau & E. Kollman, 2012. "Exact welfare measurement for double-log demand with partial adjustment," Empirical Economics, Springer, vol. 42(1), pages 171-180, February.
    5. Paulo Barelli & Samuel Abreu Pessôa, 2009. "On the general equilibrium costs of perfectly anticipated inflation," Annals of Finance, Springer, vol. 5(2), pages 243-262, March.

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