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Money-Demand-Aggregates
Money-Demand-Aggregates
2 papers tracked
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Journal of Money, Credit and Banking
Online 4 Jun 2026
Debasements and Small Coins: An Untold Story of Commodity MoneyGu Jin · Tao Zhu
This paper applies a multiple-denomination commodity money model — building on Lee, Wallace, and Zhu (2005) — to coinage episodes in late medieval England, and derives two main findings. Shortages of …
Published
Journal of Money, Credit and Banking
Online 25 Oct 2025
Published Jun 2026
On measuring the welfare cost of inflationApostolos Serletis · Libo Xu
Measuring the welfare cost of inflation requires specifying a money demand function, a definition of money, and an approach to consumer surplus; existing estimates vary widely because these choices …