Add to ORKGThe optimal inflation tax is reexamined in the framework of dynamic second best economy populated by individuals with inflation aversion. A simple formula for the optimal inflation rate is derived. Different from the literature, it is shown that if the marginal excess burden of other distorting taxes approaches zero, Friedman's rule for optimum quantity of money is not optimal, and the optimal inflation tax is negative; if the marginal excess burden of other taxes is nonzero, the optimal inflation rate is indeterminate and relies on the tradeoffs between the impatience effect of inflation and the effects of other economic forces in the monetary economy.http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP...
In Chapter 1, the optimal choice of the tax rate and the inflation rate framework is extended to yie...
This study, "Essays on the Inflation Tax," is three related, but independent papers. They are united...
This paper extends and evaluates previous work on the positive theory of inflation. We examine the b...
In this paper we propose a simple and general model for computing the Ramsey optimal inflation tax,...
In this paper we propose a simple and general model for computing the Ramsey optimal inflation tax, ...
In contrast to the recent literature on the optimal inflation tax, we show that, in models where mon...
The optimal inflation rate is analyzed in a simple model of intertemporal general equilibrium where ...
This paper examines optimal tax policy in a monetary economy in which money serves as an intermediat...
This paper uses a two-country, monetary general equilibrium model with imperfect competition to stud...
This paper considers the problem of optimal long run monetary policy. It shows that optimal inflatio...
We find that the Friedman rule is not optimal with government transfers and distortionary taxation. ...
This paper examines optimal tax policy in a monetary economy in which money serves as an intermediat...
This paper shows that price level indeterminacy in monetary models with multiple equilibria can be s...
This paper examines the role of inflationary finance together with the presence of distortionary ta...
A country that decides to fix its exchange rate thereby gives up control over its own inflation rate...
In Chapter 1, the optimal choice of the tax rate and the inflation rate framework is extended to yie...
This study, "Essays on the Inflation Tax," is three related, but independent papers. They are united...
This paper extends and evaluates previous work on the positive theory of inflation. We examine the b...
In this paper we propose a simple and general model for computing the Ramsey optimal inflation tax,...
In this paper we propose a simple and general model for computing the Ramsey optimal inflation tax, ...
In contrast to the recent literature on the optimal inflation tax, we show that, in models where mon...
The optimal inflation rate is analyzed in a simple model of intertemporal general equilibrium where ...
This paper examines optimal tax policy in a monetary economy in which money serves as an intermediat...
This paper uses a two-country, monetary general equilibrium model with imperfect competition to stud...
This paper considers the problem of optimal long run monetary policy. It shows that optimal inflatio...
We find that the Friedman rule is not optimal with government transfers and distortionary taxation. ...
This paper examines optimal tax policy in a monetary economy in which money serves as an intermediat...
This paper shows that price level indeterminacy in monetary models with multiple equilibria can be s...
This paper examines the role of inflationary finance together with the presence of distortionary ta...
A country that decides to fix its exchange rate thereby gives up control over its own inflation rate...
In Chapter 1, the optimal choice of the tax rate and the inflation rate framework is extended to yie...
This study, "Essays on the Inflation Tax," is three related, but independent papers. They are united...
This paper extends and evaluates previous work on the positive theory of inflation. We examine the b...