| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25385 |
| 来源ID | Working Paper 25385 |
| Deposit Spreads and the Welfare Cost of Inflation | |
| Pablo Kurlat | |
| 发表日期 | 2018-12-24 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Since bank deposits and currency are substitutes and banks have monopoly power, higher nominal interest rates lead to higher deposit spreads. This raises the cost of transaction services, increases bank profits and attracts entry into the banking sector. Taking these effects into account, a one percentage point increase in inflation has a welfare cost of 0.086% of GDP, 6.9 times higher than traditional estimates. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Macroeconomics ; Business Cycles ; Money and Interest Rates ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w25385 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/583059 |
| 推荐引用方式 GB/T 7714 | Pablo Kurlat. Deposit Spreads and the Welfare Cost of Inflation. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25385.pdf（629KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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