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A publicação pode ser exportada nos seguintes formatos: referência da APA (American Psychological Association), referência do IEEE (Institute of Electrical and Electronics Engineers), BibTeX e RIS.

Exportar Referência (APA) 
Miller, S. M., Martins, L. F. & Gupta, R. (2019). A time-varying approach of the us welfare cost of inflation . Macroeconomic Dynamics. 23 (2), 775-796
Exportar Referência (IEEE) 
S. Miller et al.,  "A time-varying approach of the us welfare cost of inflation ", in Macroeconomic Dynamics, vol. 23, no. 2, pp. 775-796, 2019
Exportar BibTeX 
@article{miller2019_1714153394936,
	author = "Miller, S. M. and Martins, L. F. and Gupta, R.",
	title = "A time-varying approach of the us welfare cost of inflation ",
	journal = "Macroeconomic Dynamics",
	year = "2019",
	volume = "23",
	number = "2",
	doi = "10.1017/S1365100517000037",
	pages = "775-796",
	url = "https://www.cambridge.org/core/journals/macroeconomic-dynamics/article/timevarying-approach-of-the-us-welfare-cost-of-inflation/0C866963ABF1BA807CB7B60C96201A6D#"
}
Exportar RIS 
TY  - JOUR
TI  - A time-varying approach of the us welfare cost of inflation 
T2  - Macroeconomic Dynamics
VL  - 23
IS  - 2
AU  - Miller, S. M.
AU  - Martins, L. F.
AU  - Gupta, R.
PY  - 2019
SP  - 775-796
SN  - 1365-1005
DO  - 10.1017/S1365100517000037
UR  - https://www.cambridge.org/core/journals/macroeconomic-dynamics/article/timevarying-approach-of-the-us-welfare-cost-of-inflation/0C866963ABF1BA807CB7B60C96201A6D#
AB  - Money-demand specifications exhibit instability, especially for long spans of data. This paper reconsiders the welfare cost of inflation for the US economy using a flexible time-varying (TV) cointegration methodology to estimate the money-demand function. We find evidence that the TV cointegration estimation provides a better fit of the actual data than a time-invariant estimation and that the throughout unitary income elasticity only exists for the log–log form over the entire sample period. Our estimate of the welfare cost of inflation for a 10% inflation rate lies in the range of 0.025–0.75% of gross domestic product (GDP) and averages 0.27%. In sum, our findings fall well within the ranges of existing studies of the welfare cost of inflation. We find that the welfare cost averages 7.4% higher during expansions than recessions for 10% inflation rate. Finally, the interest elasticity of money demand shows substantial variability over our sample period.
ER  -