This paper develops an analytically tractable Bewley model of money demand to shed light on some important questions in monetary theory, such as the welfare cost of inflation. It is shown that when money is a vital form of liquidity to meet uncertain consumption needs, the welfare costs of inflation can be extremely large. With log utility and parameter values that best match both the aggregate...

Between 1999 and 2006, there were two episodes during which inflation in the Rent index in the CPI diverged markedly from inflation in the index for Owner’s Equivalent Rent (OER); early in 2007, these series began to diverge again. Such divergence often prompts many to question CPI methods. A key difference between these two series is that OER indexes are based upon rents which have received a ...

most regions of iran are confronted with inadequate supply and excessive demand of water in agriculture sector mainly resulting from a high difference between water providing cost and its price. coping with such a challenge needs to determine the water price based on the economic principles and its value in agricultural production. the aim of this study was to determine the economic value of th...

in this paper, productivity of and demand for water throughout eqlid’s sugar beet growers in 1385 were investigated. to address the objective 100 growers were selected using two-stage cluster sampling, then required dataset was obtained by interviewing and completing questionnaire. in order to study factors affecting sugar beet production, cobb-douglas production function was applied. based on ...

We use generalized method of moments to estimate a rational expectations aggregate demand/aggregate supply macroeconomic model for the US economy. Variants of the model have been extensively used in analyses of optimal monetary policy under rational expectations. Our aim is to examine whether supply or demand shocks have predominated in the postwar era, and whether shocks of either type have be...

liberalization of energy price increases costs of agricultural inputs and costs of agricultural production. all these changes may affect the overall competitiveness of domestic products with similar foreign products. as a result of that, total cost of agricultural products are increased and profitability are decreased. in this paper, energy consumption for producing corn were calculated using c...

Nursing. Any errors are the sole responsibility of the author. Acknowledgement This report uses results from the published medical and economic literature to provide a range of estimates for the annual direct hospital cost of treating healthcare-associated infections (HAIs) in the United States. Applying two different Consumer Price Index (CPI) adjustments to account for the rate of inflation i...

The main goal of this study was to investigate the way of affecting of water in production of cucumber. From aspect of econometrics, mutual relationships of production function and expenses have been analyzed in which Translog cost function has been used. This function has been estimated using the conditional input demand functions, the shefard theorem, chemical fertilizer, animal fertilizer, l...