Divisia broad money, financial regulation and the welfare cost of inflation

IF 1.8 4区经济学 Q2 ECONOMICS

Economics Letters Pub Date : 2025-08-23 DOI:10.1016/j.econlet.2025.112575

David Barlow

引用次数: 0

Abstract

This paper argues that the welfare gains from reduced inflation calculated using Divisia broad money is biased upwards by the exclusion of Money Market Deposit Accounts from the Divisia index in the late 1970s and early 1980s.

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分广义货币、金融监管和福利成本通货膨胀

本文认为，在20世纪70年代末和80年代初，由于将货币市场存款账户排除在Divisia指数之外，使用Divisia广义货币计算的降低通胀带来的福利收益是向上倾斜的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics Letters ECONOMICS-

CiteScore

3.20

自引率

5.00%

发文量

348

审稿时长

30 days

期刊介绍： Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.