; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Seigniorage and the Welfare Cost of Inflation: Evidence from an Intertemporal Model of Money and Consumption"; ; "batchuser@example.com"; "Leiderman, Leonardo, 1951-", "Eckstein, Zvi"; "Federal Reserve Bank of Minneapolis"; "E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General", "E27 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: Forecasting and Simulation: Models and Applications", "E50 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General"; "This paper empirically investigates the restrictions embodied in a popular dynamic monetary model for the cross relations between consumption, money holdings, inflation and assets’ returns using quarterly data for the high-inflation economy in Israel, 1970–1988. The model considered includes money in agents’ utility function. A set of the estimated parameters is used in the analysis to assess the model’s quantitative implications for seigniorage and for the welfare costs of inflation. The estimates are found to account well for the observed stability over time of seigniorage in Israel and imply sizeable welfare costs of inflation. "^^; "1991-03-01"; "2019-05-21T18:55:24.689046294+00:00"^^; "https://doi.org/10.21034/dp.40"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Apr 22 16:43:37 2020"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "210", "445"; "Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)"; "040"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics"; "Published In: _Journal of Monetary Economics_ (Vol. 29, No. 3, June 1992, pp. 389-410) https://doi.org/10.1016/0304-3932(92)90033-X."^^; ; "Publication" . ; .