IDEAS home Printed from https://ideas.repec.org/a/taf/apfiec/v16y2006i7p499-512.html
   My bibliography  Save this article

Monetary aggregation, inflation, and welfare

Author

Listed:
  • Apostolos Serletis
  • Jagat Jit Virk

Abstract

The welfare implications of alternative monetary aggregation procedures are investigated by providing a comparison among simple-sum, Divisia, and currency equivalent monetary aggregates at different levels of monetary aggregation. Evidence is found that the choice of monetary aggregation procedure is crucial in evaluating the welfare cost of inflation.

Suggested Citation

  • Apostolos Serletis & Jagat Jit Virk, 2006. "Monetary aggregation, inflation, and welfare," Applied Financial Economics, Taylor & Francis Journals, vol. 16(7), pages 499-512.
    • Handle: RePEc:taf:apfiec:v:16:y:2006:i:7:p:499-512
    DOI: 10.1080/09603100600598064
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09603100600598064
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09603100600598064?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Apostolos Serletis, 2007. "The Demand for Money," Springer Books, Springer, edition 0, number 978-0-387-71727-2, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rubens Penha Cysne, 2009. "Bailey's Measure of the Welfare Costs of Inflation as a General-Equilibrium Measure," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2-3), pages 451-459, March.
    2. Kazem Yavari & Apostolos Serletis, 2011. "Inflation and Welfare in Latin America," Open Economies Review, Springer, vol. 22(1), pages 39-52, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hjertstrand, Per & Swofford, James L. & Whitney, Gerald A., 2020. "Testing for Weak Separability and Utility Maximization with Incomplete Adjustment," Working Paper Series 1327, Research Institute of Industrial Economics, revised 30 May 2023.
    2. Payam MOHAMMAD ALIHA & Tamat SARMIDI & Fathin FAIZAH SAID, 2018. "Investigating The Impact Of Financial Innovation On The Volatility Of The Demand For Money In The United Stated In The Context Of An Arch/Garch Model," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 19-26, June.
    3. Mauricio Calani & J. Rodrigo Fuentes & Klaus Schmidt-Hebbel, 2008. "A Systemic Approach to Money Demand Modeling," Working Papers Central Bank of Chile 512, Central Bank of Chile.
    4. Pierre Canac & Hassan Shirvani & Barry Wilbratte, 2009. "The Stability of the Demand for Money in Monetary Unions: Some Empirical Evidence from WAEMU," International Economic Journal, Taylor & Francis Journals, vol. 23(4), pages 617-628.
    5. Hendrickson, Joshua R., 2014. "Redundancy Or Mismeasurement? A Reappraisal Of Money," Macroeconomic Dynamics, Cambridge University Press, vol. 18(7), pages 1437-1465, October.
    6. Tödter, Karl-Heinz, 2002. "Monetary indicators and policy rules in the P-star model," Discussion Paper Series 1: Economic Studies 2002,18, Deutsche Bundesbank.
    7. Payam MOHAMMAD ALIHA & Tamat SARMIDI & Abu Hassan SHAAR & Fathin FAIZAH SAID, 2017. "Using Ardl Approach To Cointehration For Investigating The Relationship Between Payment Technologies And Money Demand On A World Scale," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 29-37, December.
    8. Sarwar, haroon & Hussian, zakir & Awan, masood sarwar, 2011. "Money Demand Functions for Pakistan (Divisia Approach)," MPRA Paper 34361, University Library of Munich, Germany.
    9. Serletis, Apostolos & Xu, Libo, 2021. "Consumption, Leisure, And Money," Macroeconomic Dynamics, Cambridge University Press, vol. 25(6), pages 1412-1441, September.
    10. John Paul Dunne & Elizabeth Kasekende, 2018. "Financial Innovation and Money Demand: Evidence from Sub‐Saharan Africa," South African Journal of Economics, Economic Society of South Africa, vol. 86(4), pages 428-448, December.
    11. Hiroshi Fujiki, 2014. "Japanese Money Demand from the Regional Data: An Update and Some Additional Results," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 32, pages 45-102, November.
    12. Payam MOHAMMAD ALIHA & Tamat SARMIDI & Fathin FAIZAH SAID, 2018. "Investigating The Effect Of Financial Innovations On The Demand For Money In Australia Using Dols And Fmols And Comparing Their Predictive Powers," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 17-30, July.
    13. William A. Barnett, 2013. "Friedman and Divisia Monetary Measures," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201312, University of Kansas, Department of Economics, revised Dec 2013.
    14. Binner, Jane & Elger, Thomas, 2002. "The UK Personal Sector Demand for Risky Money," Working Papers 2002:9, Lund University, Department of Economics.
    15. Noriega Antonio E. & Ramos Francia Manuel & Rodríguez-Pérez Cid Alonso, 2015. "Money Demand Estimations in Mexico and of its Stability 1986-2010, as well as Some Examples of its Uses," Working Papers 2015-13, Banco de México.
    16. Mauricio Calani & J. Rodrigo Fuentes & Klaus Schmidt-Hebbel, 2013. "A systemic approach to modelling and estimating demand for money(ies)," Applied Economics, Taylor & Francis Journals, vol. 45(16), pages 2141-2162, June.
    17. Elger, Thomas & Jones, Barry & Edgerton, David & Binner, Jane, 2004. "The Optimal Level of Monetary Aggregation in the UK," Working Papers 2004:7, Lund University, Department of Economics, revised 26 Jan 2005.
    18. Payam MOHAMMAD ALIHA & Tamat SARMIDI & Fathin FAIZAH SAID, 2020. "Investigating The Impact Of Atm And Pos Terminals On Money Demand In Nine European Countries In The Context Of A Random Effect Model As The Appropriate Panel Data Model," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 31-41, June.
    19. Michael Wagner, 2010. "Forecasting Daily Demand in Cash Supply Chains," American Journal of Economics and Business Administration, Science Publications, vol. 2(4), pages 377-383, November.
    20. William A. Barnett, 2003. "Aggregation-Theoretic Monetary Aggregation over the Euro Area, when Countries are Heterogeneous," Macroeconomics 0309018, University Library of Munich, Germany.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apfiec:v:16:y:2006:i:7:p:499-512. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAFE20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.