Showing 1 - 10 of 665
This paper focuses on the role of debt maturity in managing the government’s incentives to use opportunistic inflation … powerful instrument to affect the time profile of the inflation tax base and, hence, to mitigate the distortions introduced by …
Persistent link: https://www.econbiz.de/10014395780
This paper analyzes the relationship between inflation tax and the level of government spending in a public finance … inflation tax becomes an increasing function of government spending. Furthermore, the more inefficient the tax collection system …, the larger the increase in the inflation tax for a given increase in government spending. A numerical analysis of the …
Persistent link: https://www.econbiz.de/10014396097
This paper explains why sovereign issuers of reserve currencies do not use unexpected inflation to repudiate their … excessive money creation. It is shown that even without policy precommitment or aversion to inflation, the availability of … alternative currencies can support an equilibrium with a finite, time consistent inflation rate …
Persistent link: https://www.econbiz.de/10014396294
We show that the presence of nominal non-indexed government debt could give rise to more than one equilibrium inflation …
Persistent link: https://www.econbiz.de/10014396297
This paper analyzes, in a public finance context, how the optimal use of the inflation and the consumption tax is … by 1992. Two main questions are addressed: first, how the constraint of having to share a common inflation tax, in order … to preserve fixed-exchange rates, influences the optimal policy decisions concerning the inflation tax; secondly, how the …
Persistent link: https://www.econbiz.de/10014396346
forces that generate inflation in the uncontrolled market, and that cause shrinkage of the controlled economy as resources …
Persistent link: https://www.econbiz.de/10014396503
rate regime and economicperformance. The paper argues that adopting a pegged exchange rate canlead to lower inflation, but …
Persistent link: https://www.econbiz.de/10014399171
Persistent link: https://www.econbiz.de/10000663179
This paper discusses the 59th issue of the By-Laws and Rules and Regulations of the IMF. The By-Laws are adopted under the authority of, and are intended to be complementary to, the Articles of Agreement of the IMF. The Rules and Regulations supplement the Articles of Agreement and the By-Laws...
Persistent link: https://www.econbiz.de/10014405226
This paper was originally prepared for a seminar of the Executive Board of the Fund. In the seminar, Executive Directors expressed a broad range of views with regard to both the adequacy of the Fund's approach to financial programming and the validity of the analysis presented in this paper
Persistent link: https://www.econbiz.de/10014405907