The Inflation Tax
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Private Saving Public Saving And The Inflation Tax
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Author : Mr.A. Javier Hamann
language : en
Publisher: International Monetary Fund
Release Date : 1993-04-01
Private Saving Public Saving And The Inflation Tax written by Mr.A. Javier Hamann and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-04-01 with Business & Economics categories.
The present paper provides an analytical discussion on a popular issue: the measurement problems associated with the inflation tax. It is well known that conventional national accounts definitions usually misplace the proceeds from the inflation tax: they are typically not subtracted from disposable income, and they are not included as part of the Government’s revenues “above the line.” Using a simple, perfect foresight monetary model developed by Calvo (1986, 1987), this paper analyzes the difference between macroeconomically relevant concepts of public and private saving, and their national accounts counterparts. The paper goes on to show that the national account aggregates create the impression that heavier reliance on the inflation tax on the part of the Government is associated with higher private saving, even in situations where the composition of government revenues does not have any effect on private saving.
Inflation Tax
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Author : Pete Comley
language : en
Publisher: Pete Comley
Release Date : 2013
Inflation Tax written by Pete Comley and has been published by Pete Comley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Inflation Tax is the first book to present in simple easy to read way why inflation is such a big problem in the UK (even at low levels). It is reducing the standard of living of most people and redistributing wealth from savers to debtors. The book shows that inflation is not a mere by-product of random economic forces. Instead it is a stealth tax primarily paid by savers and pensioners. Furthermore, it has been used by successive governments since 1945 as a tool to manage the UK's debts. The book examines likely future inflation scenarios in the UK and the best ways to save and invest in those environments. Contents: SECTION I - INFLATION 1. Inflation - why you should be worried 2. What is inflation? 3. Theories of inflation 4. Measuring inflation: RPI/CPI SECTION II - DEBT 5. Government debt and the UK's Financial Dunkirk 6. Labour's post war solution to the debt 7. US inflation reduces UK debts 8. Debt: 1970s onwards SECTION III - INFLATION TAX 9. The benefits of inflation tax 10. Who pays inflation tax? 11. Disguising inflation tax 12. Problems with inflation tax SECTION IV - THE IMPLICATIONS 13. How to pay less inflation tax 14. Future debt and inflation scenarios 15. Concluding thoughts
The Inflation Tax
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Author : United States. Advisory Commission on Intergovernmental Relations
language : en
Publisher:
Release Date : 1980
The Inflation Tax written by United States. Advisory Commission on Intergovernmental Relations and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Government publications categories.
Inflation Tax Rules And Capital Formation
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Author : Martin Feldstein
language : en
Publisher: University of Chicago Press
Release Date : 2009-05-15
Inflation Tax Rules And Capital Formation written by Martin Feldstein and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-15 with Business & Economics categories.
Inflation, Tax Rules, and Capital Formation brings together fourteen papers that show the importance of the interaction between tax rules and monetary policy. Based on theoretical and empirical research, these papers emphasize the importance of including explicit specifications of the tax system in such study.
The Optimal Mix Of Inflationary Finance And Commodity Taxation With Collection Lags
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Author : Mr.Avinash K. Dixit
language : en
Publisher: International Monetary Fund
Release Date : 1990-09-01
The Optimal Mix Of Inflationary Finance And Commodity Taxation With Collection Lags written by Mr.Avinash K. Dixit and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-09-01 with Business & Economics categories.
When there are collection lags in the tax system, inflation reduces the real revenues. This is often offered as an argument for less reliance on the inflation tax. But the optimal rates of other taxes should also be reconsidered in the light of collection lags. When this is done, the focus shifts from the revenues (which can be recouped by changing the rates of these taxes), to the associated costs of collection. In a benchmark case where the average costs of collection are constant, the optimal inflation tax is independent of the collection lag.
Ownership Of Capital In Monetary Economies And The Inflation Tax On Equity
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Author : Mr.Ralph Chami
language : en
Publisher: International Monetary Fund
Release Date : 1999-12-01
Ownership Of Capital In Monetary Economies And The Inflation Tax On Equity written by Mr.Ralph Chami and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-12-01 with Business & Economics categories.
Financial instruments are subject to inflation taxes on the wealth they represent and on the nominal income flows they provide. This paper explicitly introduces financial instruments into the standard stochastic growth model with money and production and shows that the value of the firm in this case is equal to the firm’s capital stock divided by inflation. The resulting asset-pricing conditions indicate that the effect of inflation on asset returns differs from the effects found in other papers by the addition of a significant wealth tax.
Collection Lags And The Optimal Inflation Tax
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Author : Mr.Alex Mourmouras
language : en
Publisher: International Monetary Fund
Release Date : 1993-07-01
Collection Lags And The Optimal Inflation Tax written by Mr.Alex Mourmouras and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-07-01 with Business & Economics categories.
The observation that collection lags combine with inflation to erode fiscal revenues has long been a strong argument against seigniorage (Tanzi (1978)). However, with the exception of Dixit (1991), who used a general equilibrium model to reject this argument, the optimal tax literature has not analyzed how collection lags affect desired tax structures. In this paper, this issue is re-examined using an overlapping generations version of Dixit’s model. It is shown that depending on the specification of the collection cost function and the size of government spending in GDP, collection lags may increase, leave unchanged, or reduce the desired rate of inflation.
Inflation Proof Tax System Some Lessons From Israel
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1990-05-01
Inflation Proof Tax System Some Lessons From Israel written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-05-01 with Business & Economics categories.
This paper strengthens the claim made by Vito Tanzi that when the effect of a high inflation on the tax system is taken into account, then the overall revenues from inflationary finance may well be negative. The paper analyzes some genuine and neat measures taken in Israel in an attempt to construct an inflation-proof tax system. Despite these very elegant measures, the paper concludes that the Israeli experience suggests that it is more appropriate to talk about the “inflation subsidy” rather than the “inflation tax.”
A Growth Model Of Inflation Tax Evasion And Financial Repression
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Author : Nouriel Roubini
language : en
Publisher:
Release Date : 1992
A Growth Model Of Inflation Tax Evasion And Financial Repression written by Nouriel Roubini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Economic development categories.
In this paper we study the effects of policies of financial repression on long term growth and try to explain why optimizing governments might want to repress the financial sector. We also explain why inflation may be negatively related to growth, even though it does not affect growth directly. We argue that the main reason why governments repress the financial sector is that this sector is the source of "easy" resources for the public budget The source of revenue stemming from this intervention is modeled through the inflation tax. Our model has the implication that financial development reduces money demand. Hence, if the government allows for financial development the inflation tax base, and the chance to collect seigniorage, is reduced. To the extent that the financial sector increases the efficiency of the allocation of savings to productive investment, the choice of the degree of financial development will have real effects on the saving and investment rate and on the growth rate of the economy. We show that in countries where tax evasion is large the government will optimally choose to repress the financial sector in order to increase seigniorage taxation. This policy will then reduce the efficiency of the financial sector, increase the costs of intermediation, reduce the amount of investment and reduce the steady state rate of growth of the economy. Financial repression will therefore be associated with high tax evasion, low growth and high inflation.
An Inflation Tax
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Author : Richard Jackman
language : en
Publisher:
Release Date : 1982
An Inflation Tax written by Richard Jackman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Inflation (Finance) categories.