'Shoe-leather' costs of inflation: some estimates for Brazil
DOI:
https://doi.org/10.11606/1413-8050/ea220206Keywords:
shoe-leather costs, welfare cost, cost of inflationAbstract
In this article we estimate the 'shoe-leather' costs of inflation in Brazil, which are obtained by calculating the area underneath the demand for money. Two specifications were used for the demand for money, namely, the log-log model and the semi-log model. As the demand for money became too unstable in recent years, it was estimated with quarterly data for the period 1966-1985. Our results were then compared with those obtained by other authors using similar or distinct methodologies for either Brazil or the United States and the United Kingdom.
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