This study investigates the hypothesis that higher federal budget deficits act to increase the degree of federal personal income tax evasion in the U.S. Using annual data on aggregate personal income tax evasion for the period 1961-1997, 1997 being the most recent year for which all of the...

Este trabajo realiza el primer análisis cuantitativo detallado del nivel de actividad económica de Antioquia para el siglo XIX y la primera parte del XX. A partir de los datos existentes para la economía colombiana, se reconstruye la que es, además, una de las primeras series de PIB regional...

The goal of this study is to test the implication of optimal seigniorage theory that in the long run higher tax rates are associated with higher inflation rates and higher nominal interest rates. For this purpose, we examine the long run relationship between nominal interest rates, inflation and...

In this paper a comprehensive framework for measuring total gross seigniorage as suggested by Neumann was employed to analyze the implications of economic openness and inflation in dollarised developing countries with special reference to Ghana within the context of an extended Cagan model....

In our paper, we try to investigate the courses of inflation tax and seigniorage revenue for policy makers of the Turkish economy. For this purpose, we first construct an ex-ante seigniorage revenue maximizing inflation model, and then calculate annual inflation tax and seigniorage revenues for...

The paper emerges from the failure of the traditional models of hyperinflation with rational expectations or perfect foresight. Using the insights from two standard optimizing monetary settings the paper shows that the possibility of perfect foresight monetary hyperinflation paths depends...

This paper examines the long-run impact of inflation tax in the context of a generalized Ak growth model in which the production technology uses two types of capital stocks under a constant-returns-to-scale technology. We find hat unless investment expenditure for each type of capital is subject...

The paper reviews the trend of seigniorage earnings by State Bank of Pakistan and commercial banks. It is found that seigniorage revenue of the SBP has declined overtime which indicates autonomy of the central bank as well as less reliance of the government on SBP’s resources for budget...

This paper examines the growth and income distribution effects of inflation in a growing economy with heterogeneous households and progressive income taxation. Assuming that the cash-in-advance constraint applies to investment as well as to consumption spending, we show that a higher growth of...

Bajada (2006) recognises that his earlier books and papers used a faulty method for measuring the underground economy in Australia. He also reports finding a new “more serious problem” in the method. All of these failures can be avoided, it is claimed, by reduced use of currency modelling...