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dc.creatorCasares Polo, Migueles_ES
dc.date.accessioned2016-05-10T07:40:58Z
dc.date.available2016-05-10T07:40:58Z
dc.date.issued2001
dc.identifier.urihttps://hdl.handle.net/2454/20692
dc.description.abstractThis paper explores the transmission channel from monetary variables to real variables in the steady-rate equilibria of various neoclassical optimizing models with money. The existence of superneutrality is rejected for the four models at hand: time-cost transactions approach, output-cost transactions approach, money in the utility function model, and cash-in-advance model. However, the real effects of high rates of inflation are not large: output, consumption, and investment slightly fall with higher inflation rates. In addition, the welfare cost of inflation is calculated for annual rates of inflation ranging from 0% to 50%. Three of the models (all but the cash-in-advance model) agree on the following result: a 10% rate of inflation creates a permanent welfare cost equal to 0.3% of GPD per year.en
dc.format.extent49 p.
dc.format.mimetypeapplication/pdfen
dc.language.isoengen
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.relation.ispartofseries0107en
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectMoneyen
dc.subjectSuperneutralityen
dc.subjectWelfare cost of inflationen
dc.titleLong run analysis in alternative optimizing monetary modelsen
dc.typeDocumento de trabajo / Lan gaiakes
dc.typeinfo:eu-repo/semantics/workingPaperen
dc.contributor.departmentUniversidad Pública de Navarra. Departamento de Economíaes_ES
dc.contributor.departmentNafarroako Unibertsitate Publikoa. Ekonomia Sailaeu
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen


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CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Except where otherwise noted, this item's license is described as CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)