The optimal inflation tax

Isabel Correia; Pedro Teles

doi:10.1006/redy.1998.0040

The optimal inflation tax

Isabel Correia^*
, Pedro Teles

^*Autor correspondente para este trabalho

Resultado de pesquisa › revisão de pares

28 Citações (Scopus)

Resumo

We determine the second best rule for the inflation tax in monetary general equilibrium models where money is dominated in rate of return. The results in the literature are ambiguous and inconsistent across different monetary environments. We derive and compare the optimal inflation tax solutions across the different environments and find that Friedman's policy recommendation of a zero nominal interest rate is the right one. Journal of Economic Literature Classification Numbers: E31, E41, E58, E62.

Idioma original	English
Páginas (de-até)	325-346
Número de páginas	22
Revista	Review of Economic Dynamics
Volume	2
Número de emissão	2
DOIs	https://doi.org/10.1006/redy.1998.0040
Estado da publicação	Publicado - abr. 1999

ODS da ONU

Este resultado contribui para o(s) seguinte(s) Objetivo(s) de Desenvolvimento Sustentável

ODS 15 Vida em terra
ODS 17 Parcerias para os objetivos

Acesso ao documento

10.1006/redy.1998.0040

Outros arquivos e links

https://www.scopus.com/pages/publications/0006657890

Citação

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abstract = "We determine the second best rule for the inflation tax in monetary general equilibrium models where money is dominated in rate of return. The results in the literature are ambiguous and inconsistent across different monetary environments. We derive and compare the optimal inflation tax solutions across the different environments and find that Friedman's policy recommendation of a zero nominal interest rate is the right one. Journal of Economic Literature Classification Numbers: E31, E41, E58, E62.",

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AU - Teles, Pedro

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AB - We determine the second best rule for the inflation tax in monetary general equilibrium models where money is dominated in rate of return. The results in the literature are ambiguous and inconsistent across different monetary environments. We derive and compare the optimal inflation tax solutions across the different environments and find that Friedman's policy recommendation of a zero nominal interest rate is the right one. Journal of Economic Literature Classification Numbers: E31, E41, E58, E62.

KW - Friedman rule

KW - Inflation tax

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DO - 10.1006/redy.1998.0040

M3 - Article

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The optimal inflation tax

Resumo

ODS da ONU

Acesso ao documento

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Citação