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Divisia broad money, financial regulation and the welfare cost of inflation

Lookup NU author(s): Dr David Barlow

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This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).

Abstract

This paper argues that the welfare gains from reduced inflation calculated using Divisia broad money is biased upwards by the exclusion of Money Market Deposit Accounts from the Divisia index in the late 1970s and early 1980s.

Publication metadata

Author(s): Barlow D

Publication type: Article

Publication status: Published

Journal: Economics Letters

Year: 2025

Volume: 255

Print publication date: 01/09/2025

Online publication date: 23/08/2025

Acceptance date: 22/08/2025

Date deposited: 01/09/2025

ISSN (print): 0165-1765

ISSN (electronic): 1873-7374

Publisher: Elsevier BV

URL: https://doi.org/10.1016/j.econlet.2025.112575

DOI: 10.1016/j.econlet.2025.112575

ePrints DOI: 10.57711/0ja8-v888

Data Access Statement: Data will be made available on request.

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