search query: @author Guiso, L. / total: 8
reference: 7 / 8
| Author: | Attanasio, O. P. Guiso, L. Jappelli, T. |
| Title: | The Demand for Money, Financial Innovation, and the Welfare Cost of Inflation: An Analysis with Household Data |
| Journal: | Journal of Political Economy
2002 : APR, VOL. 110:2, p. 317-351 |
| Index terms: | MONEY MONEY DEMAND FINANCIAL INNOVATION COSTS INFLATION |
| Language: | eng |
| Abstract: | The authors use microeconomic data on households to estimate the parameters of the demand for currency derived from a generalized Baumol-Tobin model. The authors' data set contains information on average currency, deposits, and other interest-bearing assets; the number of trips to the bank; the size of withdrawals; and ownership and use of ATM cards. The authors model the demand for currency accounting for adoption of new transaction technologies and the decision to hold interest- bearing assets. The interest rate and expenditure flow elasticities of the demand for currency are close to the theoretical values implied by standard inventory models. However, the authors find significant differences between individuals with an ATM card and those without. |
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