هزینه های تورم چرم کفش و نرخ تورم به طور میانگین در سراسر کشور
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|47730||2006||27 صفحه PDF||سفارش دهید||محاسبه نشده|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Journal of International Money and Finance, Volume 25, Issue 7, November 2006, Pages 1103–1129
Cross-country differences in average inflation rates among 30 countries are well explained by differences in estimated “shoe leather” cost functions relating these costs to the inflation tax. The shoe leather costs are estimated by means of the standard Cagan, semi-log demand for real balances modified to take account of variations in reserve ratios and the effects of these variations on the demand for the monetary base. The results are consistent with optimization on the part of an efficient government theory but are not adequate to discriminate between efficient government models and many others for which shoe leather costs play at least a substantial role in policy-makers' decisions. The imposition of the semi-log form does not seem critical in arriving at these conclusions, although this form tends to produce more reasonable-looking Laffer surfaces than more flexible forms.