The welfare cost of inflation in a cash-in-advance economy with costly credit

Journal of Monetary Economics - Tập 31 - Trang 97-115 - 1993
Max Gillman1
1University of Otago, Dunedin, New Zealand

Tài liệu tham khảo

Bailey, 1956, The welfare costs of inflationary finance, Journal of Political Economy, 64, 93, 10.1086/257766 Baltensperger, 1980, Alternative approaches to the theory of the banking firm, Journal of Monetary Economics, 6, 1, 10.1016/0304-3932(80)90016-1 Baumol, 1952, The transactions demand for cash: An inventory-theoretic approach, Quarterly Journal of Economics, 66, 545, 10.2307/1882104 Becker, 1965, A theory of the allocation of time, Economic Journal, 75, 493, 10.2307/2228949 Bohn, 1991, On cash-in-advance models of money demand and asset pricing, Journal of Money, Credit, and Banking, 23, 224, 10.2307/1992778 Clower, 1967, A reconsideration of the microfoundations of monetary theory, Western Economic Journal, 6, 1 Coleman, 1989, Asset prices in a cash-in-advance economy Cooley, 1989, The inflation tax in a real business cycle, American Economic Review, 79, 733 Cooley, 1991, The welfare cost of moderate inflations, Journal of Money, Credit, and Banking, 23, 482, 10.2307/1992683 1990, 286 Den Haan, 1990, The optimal inflation path in a Sidrauski-type model with uncertainty, Journal of Monetary Economics, 25, 389, 10.1016/0304-3932(90)90060-H Eichenbaum, 1992, Liquidity effects and the monetary transmission mechanism, American Economic Review, 82, 346 Eichenbaum, 1985, A shred of evidence on public acceptance of privately issued currency, Federal Reserve Bank of Minneapolis Quarterly Review, 2 Fischer, 1981, Towards an understanding of the costs of inflation: II, Carnegie-Rochester Conference Series on Public Policy, 15, 5, 10.1016/0167-2231(81)90016-6 Friedman, 1969 Hicks, 1935, A suggestion for simplifying the theory of money, Economica, 2, 1, 10.2307/2549103 Hodrick, 1991, The variability of velocity in cash-in-advance models, Journal of Political Economy, 99, 358, 10.1086/261754 King, 1988, Money demand in the United States: A quantitative review - A comment, Carnegie-Rochester Conference Series on Public Policy, 29, 169, 10.1016/0167-2231(88)90010-3 King, 1986, Money as the mechanism of exchange, Journal of Monetary Economics, 17, 93, 10.1016/0304-3932(86)90007-3 Lucas, 1980, Equilibrium in a pure currency economy, 10.1111/j.1465-7295.1980.tb00570.x Lucas, 1984, Money in a theory of finance, Carnegie-Rochester Conference Series on Public Policy, 21, 9, 10.1016/0167-2231(84)90003-4 Lucas, 1988, Money demand in the United States: A quantitative review, Carnegie-Rochester Conference Series on Public Policy, 29, 137, 10.1016/0167-2231(88)90009-7 Lucas, 1983, Optimal fiscal and monetary policy in an economy without capital, Journal of Moneary Economics, 12, 55, 10.1016/0304-3932(83)90049-1 Lucas, 1987, Money and interest in a cash-in-advance economy, Econometrica, 55, 491, 10.2307/1913597 Manuelli, 1988, Models of business cycles: A review essay, Journal of Monetary Economics, 22, 523, 10.1016/0304-3932(88)90013-X McCallum, 1983, The role of overlapping-generations models in monetary economics, Carnegie-Rochester Conference Series on Public Policy, 18, 9, 10.1016/0167-2231(83)90020-9 McCallum, 1990, 128 Mehra, 1985, The equity premium: A puzzle, Journal of Monetary Economics, 15, 145, 10.1016/0304-3932(85)90061-3 Plosser, 1984, Money in a theory of finance: Some observations on the Lucas paper, Carnegie-Rochester Conference Series on Public Policy, 21, 47, 10.1016/0167-2231(84)90004-6 Prescott, 1987, A multiple means of payment model, 42 Romer, 1986, A simple general equilibrium version of the Baumol-Tobin model, Quarterly Journal of Economics, 101, 663, 10.2307/1884173 Romer, 1987, The monetary transmission mechanism in a general equilibrium version of the Baumol-Tobin model, Journal of Monetary Economics, 20, 105, 10.1016/0304-3932(87)90060-2 Svensson, 1985, Money and asset prices in a cash-in-advance economy, Journal of Political Economy, 93, 919, 10.1086/261342 Townsend, 1989, Currency and credit in a private information economy, Journal of Political Economy, 97, 1323, 10.1086/261656 1929 1985 Wright, 1991, Comment on the welfare cost of moderate inflations, Journal of Money, Credit, and Banking, 23, 514, 10.2307/1992685