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dc.contributor.authorCysne, Rubens Penha
dc.date.accessioned2008-05-13T15:46:57Z
dc.date.available2008-05-13T15:46:57Z
dc.date.issued2006-01-01
dc.identifier.issn0104-8910
dc.identifier.urihttp://hdl.handle.net/10438/1011
dc.description.abstractThe literature on the welfare costs of ináation universally assumes that the many-person household can be treated as a single economic agent. This paper explores what the heterogeneity of the agents in a household might imply for such welfare analyses. First, we show that allowing for a one-person or for a many-person transacting technology impacts the money demand function and, therefore, the welfare costs of ináation. Second, more importantly, we derive su¢ cient conditions under which welfare assessments which depart directly from the knowledge of the money demand function (as in Lucas (2000)) are robust (invariant) under the number of persons considered in the household. Third, we show that Baileyís (1956) partial-equilibrium measure of the welfare costs of ináation can be obtained as a Örst-order approximation of the general-equilibrium welfare measure derived in this paper using a many-person transacting technology.eng
dc.language.isoeng
dc.publisherFundação Getulio Vargas. Escola de Pós-graduação em Economiapor
dc.relation.ispartofseriesEnsaios Econômicos;612por
dc.titleAn intra-household approach to the welfare costs of inflation (Revised Version, Forthcoming 2006, Estudos Econômicos)eng
dc.typeWorking Papereng
dc.subject.areaEconomiapor
dc.contributor.unidadefgvEscolas::EPGEpor
dc.subject.bibliodataInflação - Brasilpor
dc.contributor.affiliationFGV


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