Now showing items 11-12 of 12
Divisia indexes, money and welfare
(Escola de Pós-Graduação em Economia da FGV, 2000-07-01)
We suggest the use of a particular Divisia index for measuring welfare losses due to interest rate wedges and in‡ation. Compared to the existing options in the literature: i) when the demands for the monetary assets are ...
Inflation and overbanking
(Escola de Pós-Graduação em Economia da FGV, 2000-04-01)
This paper argues that monetary models can and usually present the phenomenon of over-banking; that is, the market solution of the model presents a size of the banking sector which is higher than the social optima. Applying ...