| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6486 |
| DP6486 Did US Safeguards Affect Mark-ups of EU Steel Producers? | |
| Hylke Vandenbussche; Ziga Zarnic | |
| 发表日期 | 2007-09-21 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We extend the Baumol-Tobin cash inventory model to a dynamic environment, which allows for the possibility of withdrawing cash at random times at a low cost. This modification captures developments in withdrawal technology, such as the increasing diffusion of bank branches and ATM terminals. We document cash management patterns for households that are at odds with the predictions of deterministic inventory models that abstract from precautionary motives. We characterize the solution of the model and show that qualitatively it is able to reproduce such patterns. Estimating the structural parameters we show that the model accounts for key features of the data. The estimates are used to quantify the expenditure and interest rate elasticity of money demand, the impact of financial innovation on money demand, the welfare cost of inflation, the gains of disinflation and the benefit of ATM ownership. |
| 主题 | International Macroeconomics |
| 关键词 | Inventory models Money demand Technological progress |
| URL | https://cepr.org/publications/dp6486 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535301 |
| 推荐引用方式 GB/T 7714 | Hylke Vandenbussche,Ziga Zarnic. DP6486 Did US Safeguards Affect Mark-ups of EU Steel Producers?. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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