کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
13461025 1845168 2019 16 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Deposit spreads and the welfare cost of inflation
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Deposit spreads and the welfare cost of inflation
چکیده انگلیسی
High nominal interest rates are associated with high deposit spreads, which is consistent with a model where banks have monopoly power and currency and deposits are substitutes. Therefore, higher interest rates raise the implicit price of banking services, increase bank profits and attract entry into the banking sector. Taking these effects into account, a one percentage point increase in inflation has a welfare cost of 0.083% of GDP, 6.7 times higher than traditional estimates.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Monetary Economics - Volume 106, October 2019, Pages 78-93
نویسندگان
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