Attanasio, Orazio; Guiso, Luigi; Jappelli, Tuillo - National Bureau of Economic Research (NBER) - 1998
How far can shoe-leather go in explaining the welfare cost of inflation? Using a unique set of microeconomic data on households, we estimate the parameters of the demand for money derived from the generalized Baumol-Tobin model. Our data set contains information on average holdings of cash, on...