Measuring the contribution of durable goods to the welfare cost of inflation

Autor:	Leo Michelis, Arman Mansoorian
Rok vydání:	2016
Předmět:	Inflation Economics and Econometrics Endogenous growth theory Welfare cost of inflation media_common.quotation_subject 05 social sciences TheoryofComputation_GENERAL Context (language use) Durable good Microeconomics Cash payment 0502 economics and business Data_FILES Economics ComputingMilieux_COMPUTERSANDSOCIETY 050207 economics Welfare 050205 econometrics media_common
Zdroj:	Canadian Journal of Economics/Revue canadienne d'économique. 49:815-833
ISSN:	1540-5982 0008-4085
DOI:	10.1111/caje.12215
Popis:	In this paper, we measure the contribution of durable goods to the welfare cost of inflation, in the context of an endogenous growth model with durable and nondurable goods, where purchases of the latter require only a partial cash payment compared with the former. Unlike existing measures, our proposed welfare measure is computationally efficient and relatively easy to implement.We find that durability adds a significant component to the welfare costs of inflation.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::38b8c2808a77a357b3f7cdf1f3eacf58 https://doi.org/10.1111/caje.12215 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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