Monetary aggregation, inflation, and welfare

Apostolos Serletis, Jagat Jit Virk
2006 Applied Financial Economics  
This paper investigates the welfare implications of alternative monetary aggregation procedures by providing a comparison among simplesum, Divisia, and currency equivalent monetary aggregates at di¤erent levels of monetary aggregation. We ...nd evidence that the choice of monetary aggregation procedure is crucial in evaluating the welfare cost of in ‡ation.
doi:10.1080/09603100600598064 fatcat:eprcnuugubdanouh772gxbvurq