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 …

equilibrium with no inflation and no default exists. However, highly-indebted countries are more likely to default once they join …

The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price …

). Fiscal dominance has always been a pressing problem as it can contribute to inflation and macroeconomic instability, and … and inflation …

This paper provides general equilibrium estimates of the steady-state welfare gains of lowering inflation from a low … tax, it is found that inflation unambiguously reduces capital intensity, drives up the before-tax real rate of return to …