On the Welfare Cost of Inflation and the Recent Behavior of Money Demand
By Peter N. Ireland. 2008
199 citations recorded by the source corpus.
Subfields: Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/010ef5e23f3fcfb9be2c025bf0d7b198bc3a2dd4
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Economics and Econometrics
- P. Surico
- John Barrdear
- Michael Kumhof
- Jaromı́r Beneš
- Thomas J. Sargent
- Haroon Mumtaz
- Gary Koop
- Todd E. Clark
Citations in the corpus
- On the stability of money demand (2015, unknown): “nk = ) (5 " 1) + r ) 5 " 5 ** 1 / < (8) ) k " k * n = r; 1 / ) 5 " 5 * (9)”
- The Macroeconomics of Central Bank Issued Digital Currencies (2016, methodology): “To study this issue we use a monetary-financial DSGE model, calibrated to match the United States in the pre-crisis period, that models CBDC as an imperfect substitute for bank deposits in the provision of monetary transaction services, and that models bank deposits as being created through loans or”
- Two Illustrations of the Quantity Theory of Money: Breakdowns and Revivals (2011, background): “Equation (11) is a money demand equation of the type derived by Bennet McCallum and Edward Nelson (1999) and Ireland (2003). The discount factor is θ, the parameter απ is price setters’ extent of indexation to past inflation, αx captures the extent of habit formation. The coefficients κ and a Fed’s ”
- The Chicago Plan Revisited (2012, background): “Traditional empirical studies have estimated money demand equations separately rather than as part of an overall general equilibrium model, and have found interest semi-elasticities of -0.05 (Ball (2001)) or even lower (Ireland (2007), O’Brien (2000)).”