INFLATION, NONOPTIMAL MONETARY ARRANGEMENTS AND THE BANKING IMPUTATION IN THE NATIONAL ACCOUNTS*

Thomas Rymes

Review of Income and Wealth, 1985, vol. 31, issue 1, 85-96

Abstract: This paper demonstrates, with the use of some recent developments in neoclassical monetary theory, that the banking imputation problem in the national accounts arises because of the regulation of banks by Authorities. It demonstrates as well that the banking imputation problem is a manifestation of the failure of the Authorities to provide optimal monetary arrangements. Some comments on existing imputations, in the light of this theory, are provided.

Date: 1985
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https://doi.org/10.1111/j.1475-4991.1985.tb00499.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:revinw:v:31:y:1985:i:1:p:85-96

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