Money Demand and the Welfare Cost of Inflation: Empirical Evidence From East Asian Countries

aut.embargoNoen_NZ
aut.thirdpc.containsNoen_NZ
aut.thirdpc.permissionNoen_NZ
aut.thirdpc.removedNoen_NZ
dc.contributor.advisorKumar, Saten
dc.contributor.authorNguyen, Luan
dc.date.accessioned2016-11-03T03:38:35Z
dc.date.available2016-11-03T03:38:35Z
dc.date.copyright2016
dc.date.created2016
dc.date.issued2016
dc.date.updated2016-11-03T02:45:35Z
dc.description.abstractThis dissertation presents empirical evidence of the long-term relationship between money (M1) and inflation from five selected East Asian countries during the period from 1977?2014. The two money demand specifications, namely, the semi-log and the log-log functional forms initiated by Cagan (1956) and Meltzer (1963), respectively, are examined using time-varying and structural break tests for stationary and cointegration before estimating cointegration equations with ordinary least squares (OLS) regression. In addition to estimating the money demand function, the welfare cost of inflation is calculated following Bailey?s (1956) consumer surplus approach. Results indicate that there is an insignificant effect of inflation in the five countries, as well as in comparison to existing studies. On the other hand, there is a distinction between the two specifications, with the log-log form often producing more consistent and reasonable results.en_NZ
dc.identifier.urihttps://hdl.handle.net/10292/10130
dc.language.isoenen_NZ
dc.publisherAuckland University of Technology
dc.rights.accessrightsOpenAccess
dc.subjectThe welfare cost of inflationen_NZ
dc.subjectMoney demanden_NZ
dc.subjectStructural breaken_NZ
dc.subjectAsian countriesen_NZ
dc.titleMoney Demand and the Welfare Cost of Inflation: Empirical Evidence From East Asian Countriesen_NZ
dc.typeDissertation
thesis.degree.grantorAuckland University of Technology
thesis.degree.levelMasters Dissertations
thesis.degree.nameMaster of Businessen_NZ
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