there is an efficiency cost of taxation: larger transfers lead to larger fluctuations in consumption. The paper also shows …

This paper investigates inflation thresholds that lead to higher growth rates using five-year averages of standard … countries: (i) the catch-up effect has worked only when inflation is below 12%; (ii) the positive effect of human capital on … growth has been present and significant when inflation has been below 15%; (iii) financial development has been effective …

of money demand played a prominent role. More recently, interactions of inflation and taxation came into focus. Growth …This paper reviews theory and evidence of the welfare effects of inflation from a costbenefit perspective. Basic models … and selected empirical results are discussed. Historically, in assessing the welfare effects of inflation, the distortion …

of money demand played a prominent role. More recently, interactions of inflation and taxation came into focus. Growth …This paper reviews theory and evidence of the welfare effects of inflation from a costbenefit perspective. Basic models … and selected empirical results are discussed. Historically, in assessing the welfare effects of inflation, the distortion …

inflation tax. However, if imposing a positive sales tax is inevitable for central bank independence, there arises an …

, for optimal income taxation. Our analyses show that, when the government is utilitarian and disutility from labor supply …

, for optimal income taxation. Our analyses show that, when the government is utilitarian and disutility from labor supply …

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

Output growth, investment and the real interest rate in long run evidence tend to be negatively affected by inflation …. Theoretically, inflation acts as a human capital tax that decreases output growth and the real interest rate, but increases the …. Inflation then decreases the investment rate, and still decreases both output growth and real interest up to some moderately …