Work

Measuring inflation: an attempt to operationalize Carl Menger's concept of the inner money.

Year: 1997

Type: report

Abstract: This paper attempts to operationalize Carl Menger’s concept of the ‘innerer Tauschwert des Geldes’, i.e. the inner value of money. Since the change in the inner value of money is the component of price movements which is due to monetary influences, the operationalization provides an alternative measure of inflation. We consider several approaches for gauging the change in the inner value of money. Of these, we use Quah and Vahey’s structural VAR model to identify the price movements in the Netherlands and the EU due to monetary shocks.

Source: UvA-DARE (University of Amsterdam)

Authors: M.M.G. Fase, C.K. Folkertsma

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2106724316

Cites: 3

Cited by: 17

Related to: 10