997 resultados para 622, WAST


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Lucas (2000) estimates that the US welfare costs of inflation are around 1% of GDP. This measurement is consistent with a speci…c distorting channel in terms of the Bailey triangle under the demand for monetary base schedule (outside money): the displacement of resources from the production of consumption goods to the household transaction time à la Baumol. Here, we consider also several new types of distortions in the manufacturing and banking industries. Our new evidences show that both banks and firms demand special occupational employments to avoid the inflation tax. We de…ne the concept of ”the foat labor”: The occupational employments that are aflected by the in‡ation rates. More administrative workers are hired relatively to the bluecollar workers for producing consumption goods. This new phenomenon makes the manufacturing industry more roundabout. To take into account this new stylized fact and others, we redo at same time both ”The model 5: A Banking Sector -2” formulated by Lucas (1993) and ”The Competitive Banking System” proposed by Yoshino (1993). This modelling allows us to characterize better the new types of misallocations. We …nd that the maximum value of the resources wasted by the US economy happened in the years 1980-81, after the 2nd oil shock. In these years, we estimate the excess resources that are allocated for every speci…c distorting channel: i) The US commercial banks spent additional resources of around 2% of GDP; ii) For the purpose of the firm foating time were used between 2.4% and 4.1% of GDP); and iii) For the household transaction time were allocated between 3.1% and 4.5 % of GDP. The Bailey triangle under the demand for the monetary base schedule represented around 1% of GDP, which is consistent with Lucas (2000). We estimate that the US total welfare costs of in‡ation were around 10% of GDP in terms of the consumption goods foregone. The big di¤erence between our results and Lucas (2000) are mainly due to the Harberger triangle in the market for loans (inside money) which makes part of the household transaction time, of the …rm ‡oat labor and of the distortion in the banking industry. This triangle arises due to the widening interest rates spread in the presence of a distorting inflation tax and under a fractionally reserve system. The Harberger triangle can represent 80% of the total welfare costs of inflation while the remaining percentage is split almost equally between the Bailey triangle and the resources used for the bank services. Finally, we formulate several theorems in terms of the optimal nonneutral monetary policy so as to compare with the classical monetary theory.

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Error en símbolo en tapa y contraportada (S/2006/20)

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Includes bibliography

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Friedrich Stoltze II

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"Problem der neueren Philosophie", Vorlesung Wintersemester 1950/51 und Sommersemester 1951, 1) Heft, 78 Blatt und 20 zusätzliche Blätter, eigenhändige Notizen (GS 14, S. 145, 151-152), 2) Friedrich Pollock: Notizen zur Volesung Max Horkheimers, Wintersemester 1950/51), eigenhändige Notizen, 9 Blatt; "Philosophie im 17. Jahrhundert (insbes. Spinoza)", Vorlesung Winteremester 1951/52, 1) Heft 1, 17 Blatt und 2 zusätzliche Blätter, eigenhändige Notizen, 2) Heft 2, 46 Blatt, davon 3 leer, und 15 zusätzliche Blätter, eigenhändige Notizen; "Philosophie im 18. Jahrhundert", Vorlesung Sommersemester 1952, 1 Heft mit eigenhändigen Notizen, 64 Blatt, davon 30 leer, und 44 zusätzliche Blätter;

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El artículo propone un recorrido somero por la historia de la profesionalización del escritor en Argentina, a través de la lectura de tres textos autobiográficos escritos entre finales de la década de 1880 y 1930: una causerie de Lucio V. Mansilla, el diario del viaje a París de Horacio Quiroga y las memorias de Hugo Wast. La elección apunta a leer un proceso de transformación con sus inflexiones, superposiciones, emergencias y residuos, para revisar a partir de allí las relaciones que la literatura entabla con el dinero por medio de modalidades tan diversas como el trabajo periodístico, la colaboración free-lance o la escritura de best-sellers, aunque siempre reunidas bajo una figura común: el hambre en vinculación con la escena de iniciación al mundo de las letras.