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首页> 外文期刊>Journal of International Money and Finance >Inflation shoe leather costs and average inflation rates across countries
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Inflation shoe leather costs and average inflation rates across countries

机译：各国的充气鞋革成本和平均通胀率

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摘要

Cross-country differences in average inflation rates among 30 countries are well explained by differences in estimated "shoe leather" cost functions relating these costs to the inflation tax. The shoe leather costs are estimated by means of the standard Cagan, semi-log demand for real balances modified to take account of variations in reserve ratios and the effects of these variations on the demand for the monetary base The results are consistent with optimization on the part of an efficient government theory but are not adequate to discriminate between efficient government models and many others for which shoe leather costs play at least a substantial role in policy-makers' decisions. The imposition of the semi-log form does not seem critical in arriving at these conclusions, although this form tends to produce more reasonable-looking Laffer surfaces than more flexible forms.
机译：30个国家之间的平均通货膨胀率跨国差异可以通过将这些成本与通货膨胀税联系起来的“鞋革”成本函数的差异来很好地解释。鞋类皮革的成本是通过标准Cagan估计的，对半实物需求的半对数需求进行了修改，以考虑准备金率的变化以及这些变化对货币基础需求的影响。高效政府理论的一部分，但不足以区分高效政府模型和许多其他因素，而鞋革成本至少在决策者的决策中起着重要作用。半对数形式的强加似乎对得出这些结论并不关键，尽管这种形式倾向于产生比更灵活形式更合理的拉弗表面。

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