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 modest...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2008
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
14098 |
| Online-Zugang: | kostenfrei |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
MARC
| LEADER | 00000nam a2200000zcb4500 | ||
|---|---|---|---|
| 001 | BV023593978 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | t| | ||
| 008 | 081010s2008 xxud||| |||| 00||| eng d | ||
| 035 | |a (OCoLC)254640356 | ||
| 035 | |a (DE-599)GBV57168274X | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-521 | ||
| 050 | 0 | |a HB1 | |
| 100 | 1 | |a Ireland, Peter N. |d 1966- |e Verfasser |0 (DE-588)124552161 |4 aut | |
| 245 | 1 | 0 | |a On the welfare cost of inflation and the recent behavior of money demand |c Peter N. Ireland |
| 264 | 1 | |a Cambridge, Mass. |b National Bureau of Economic Research |c 2008 | |
| 300 | |a 17, [8] S. |b graph. Darst. |c 22 cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 14098 | |
| 520 | 8 | |a "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 modest departures from Friedman's zero nominal interest rate rule for the optimum quantity of money that are quite small. The results suggest that the Federal Reserve's current policy, which generates low but still positive rates of inflation, provides an adequate approximation in welfare terms to the alternative of moving all the way to the Friedman rule"--National Bureau of Economic Research web site | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
| 810 | 2 | |a National Bureau of Economic Research <Cambridge, Mass.> |t NBER working paper series |v 14098 |w (DE-604)BV002801238 |9 14098 | |
| 856 | 4 | 1 | |u http://papers.nber.org/papers/w14098.pdf |z kostenfrei |3 Volltext |
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-016909308 | |
Datensatz im Suchindex
| _version_ | 1819267521877901312 |
|---|---|
| any_adam_object | |
| author | Ireland, Peter N. 1966- |
| author_GND | (DE-588)124552161 |
| author_facet | Ireland, Peter N. 1966- |
| author_role | aut |
| author_sort | Ireland, Peter N. 1966- |
| author_variant | p n i pn pni |
| building | Verbundindex |
| bvnumber | BV023593978 |
| callnumber-first | H - Social Science |
| callnumber-label | HB1 |
| callnumber-raw | HB1 |
| callnumber-search | HB1 |
| callnumber-sort | HB 11 |
| callnumber-subject | HB - Economic Theory and Demography |
| ctrlnum | (OCoLC)254640356 (DE-599)GBV57168274X |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01860nam a2200325zcb4500</leader><controlfield tag="001">BV023593978</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">t|</controlfield><controlfield tag="008">081010s2008 xxud||| |||| 00||| eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)254640356</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBV57168274X</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-521</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HB1</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Ireland, Peter N.</subfield><subfield code="d">1966-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)124552161</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">On the welfare cost of inflation and the recent behavior of money demand</subfield><subfield code="c">Peter N. Ireland</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge, Mass.</subfield><subfield code="b">National Bureau of Economic Research</subfield><subfield code="c">2008</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">17, [8] S.</subfield><subfield code="b">graph. Darst.</subfield><subfield code="c">22 cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">Working paper series / National Bureau of Economic Research</subfield><subfield code="v">14098</subfield></datafield><datafield tag="520" ind1="8" ind2=" "><subfield code="a">"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 modest departures from Friedman's zero nominal interest rate rule for the optimum quantity of money that are quite small. The results suggest that the Federal Reserve's current policy, which generates low but still positive rates of inflation, provides an adequate approximation in welfare terms to the alternative of moving all the way to the Friedman rule"--National Bureau of Economic Research web site</subfield></datafield><datafield tag="776" ind1="0" ind2="8"><subfield code="i">Erscheint auch als</subfield><subfield code="n">Online-Ausgabe</subfield></datafield><datafield tag="810" ind1="2" ind2=" "><subfield code="a">National Bureau of Economic Research <Cambridge, Mass.></subfield><subfield code="t">NBER working paper series</subfield><subfield code="v">14098</subfield><subfield code="w">(DE-604)BV002801238</subfield><subfield code="9">14098</subfield></datafield><datafield tag="856" ind1="4" ind2="1"><subfield code="u">http://papers.nber.org/papers/w14098.pdf</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-016909308</subfield></datafield></record></collection> |
| id | DE-604.BV023593978 |
| illustrated | Illustrated |
| indexdate | 2024-12-23T21:18:30Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016909308 |
| oclc_num | 254640356 |
| open_access_boolean | 1 |
| owner | DE-521 |
| owner_facet | DE-521 |
| physical | 17, [8] S. graph. Darst. 22 cm |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series2 | Working paper series / National Bureau of Economic Research |
| spelling | Ireland, Peter N. 1966- Verfasser (DE-588)124552161 aut On the welfare cost of inflation and the recent behavior of money demand Peter N. Ireland Cambridge, Mass. National Bureau of Economic Research 2008 17, [8] S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 14098 "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 modest departures from Friedman's zero nominal interest rate rule for the optimum quantity of money that are quite small. The results suggest that the Federal Reserve's current policy, which generates low but still positive rates of inflation, provides an adequate approximation in welfare terms to the alternative of moving all the way to the Friedman rule"--National Bureau of Economic Research web site Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 14098 (DE-604)BV002801238 14098 http://papers.nber.org/papers/w14098.pdf kostenfrei Volltext |
| spellingShingle | Ireland, Peter N. 1966- On the welfare cost of inflation and the recent behavior of money demand |
| title | On the welfare cost of inflation and the recent behavior of money demand |
| title_auth | On the welfare cost of inflation and the recent behavior of money demand |
| title_exact_search | On the welfare cost of inflation and the recent behavior of money demand |
| title_full | On the welfare cost of inflation and the recent behavior of money demand Peter N. Ireland |
| title_fullStr | On the welfare cost of inflation and the recent behavior of money demand Peter N. Ireland |
| title_full_unstemmed | On the welfare cost of inflation and the recent behavior of money demand Peter N. Ireland |
| title_short | On the welfare cost of inflation and the recent behavior of money demand |
| title_sort | on the welfare cost of inflation and the recent behavior of money demand |
| url | http://papers.nber.org/papers/w14098.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT irelandpetern onthewelfarecostofinflationandtherecentbehaviorofmoneydemand |