The Experts below are selected from a list of 294 Experts worldwide ranked by ideXlab platform

Gary D Hansen - One of the best experts on this subject based on the ideXlab platform.

  • The Inflation Tax in a Real Business Cycle Model
    The American Economic Review, 2016
    Co-Authors: Thomas F Cooley, Gary D Hansen
    Abstract:

    Money is incorporated into a real business cycle model using a cash-in-advance constraint. The model economy is used to analyze whether the business cycle is different in high Inflation and low Inflation economies and to analyze the impact of variability in the growth rate of money. In addition, the welfare cost of the Inflation Tax is measured and the steady-state properties of high and low Inflation economies are compared.

Thomas F Cooley - One of the best experts on this subject based on the ideXlab platform.

  • The Inflation Tax in a Real Business Cycle Model
    The American Economic Review, 2016
    Co-Authors: Thomas F Cooley, Gary D Hansen
    Abstract:

    Money is incorporated into a real business cycle model using a cash-in-advance constraint. The model economy is used to analyze whether the business cycle is different in high Inflation and low Inflation economies and to analyze the impact of variability in the growth rate of money. In addition, the welfare cost of the Inflation Tax is measured and the steady-state properties of high and low Inflation economies are compared.

Thom Thurston - One of the best experts on this subject based on the ideXlab platform.

  • Empirical estimates of Inflation Tax Laffer surfaces: a 30-country study
    Journal of Development Economics, 2000
    Co-Authors: Turan G. Bali, Thom Thurston
    Abstract:

    Abstract Long-run or “steady state” Inflation Tax Laffer surfaces are estimated with annual data over the 1960s through early 1990s for a varied group of 30 countries using the Cagan, semi-elastic demand for currency and for deposits. The model includes an explicit role for the reserve ratio, variations in which are shown to be important in explaining Inflation Tax revenue statistically. Countries' Inflation and reserve ratio management are examined in terms of “where” they operated with respect to steady state Laffer boundaries, defined as the locus of instruments (Inflation and reserve ratio) that maximize the Inflation Tax. Analysis is performed both in terms of sample means of the instruments and their annual values, each approach requiring a different conceptual framework. Few countries operated frequently on the “wrong side” of the Laffer surface.

Ahmad Jafari Samimi - One of the best experts on this subject based on the ideXlab platform.

  • Estimation of Inflation Tax Capacity in Iran
    2012
    Co-Authors: Ahmad Jafari Samimi, Moslemeh Ebrahimi, Khosro Azizi
    Abstract:

    Laffer curve shows a nonlinear relationship between Inflation rate and Inflation Tax. The present t research estimates Laffer curve function for the period 1974-2007 in Iran using the regression models under different scenarios for measuring the Inflation Tax. We have also used money demand function proposed by Aegnor and Montiel (1996). Our findings Indicate the justification of a bell shaped Laffer curve for the period under consideration in Iran. The Inflation rate consistent with the maximum capacity of Inflation Tax is in the range of 22-78 percent in Iran.

  • Inflation and Inflation Tax in Developing Countries; A Panel Threshold Approach
    2012
    Co-Authors: Ahmad Jafari Samimi, Younes Nademi, Saman Ghaderi, Ramezan Hosseinzadeh
    Abstract:

    Governments make revenue from issuing money. This revenue is called seigniorage and in general consists of two parts, namely the rising demand for money to keep up with the growth of economy and the "Inflation" Tax. This paper uses a panel threshold regression model to study whether a non- linear relationship between Inflation Tax and Inflation in 129 developing countries based on two regimes of Inflation (low and high Inflation regimes). Empirical results indicate the Laffer curve in Inflation Tax exists in 129 developing countries. The threshold Inflation rate is 6.7%. Therefore, in low Inflation regime (Inflation rate is less than 6.7%), The Inflation rate has a significantly positive impact on Inflation Tax. By contrast, when Inflation rate is in high regime (Inflation rate is larger than 6.7%), the Inflation rate has a significantly negative impact on Inflation Tax.

  • Corruption and Inflation Tax in Selected Developing Countries
    2012
    Co-Authors: Ahmad Jafari Samimi, Maryam Abedini, Mehrnoosh Abdollahi
    Abstract:

    2 Abstract: The purpose of the present paper is to investigate the impact of corruption on Inflation Tax in selected developing countries. To do so, we concentrated on a sample of 25 countries; that consist of Middle East and North Africa countries and also some selected developing countries like Singapore, Pakistan, Malaysia, India, Indonesia, Thailand, Tajikistan and Zimbabwe; for which the necessary data were available for the period 2003-2008. We have also used a composite index of corruption called Corruption Perception Index (CPI). Our findings based on a panel data regression model support the view of a positive relationship between corruption and Inflation Tax. In other words, the higher is the corruption the higher will be the Inflation Tax. Therefore, policies to alleviate corruption are recommended in these countries.

  • Political Stability and Inflation Tax: Evidence from MENA Region
    2012
    Co-Authors: Ahmad Jafari Samimi, Maryam Abedini, Salime Hassani Laharemi
    Abstract:

    2 Abstract: The purpose of the present paper is to investigate the impact of political stability on Inflation Tax in selected developing countries located in the Middle East and North Africa. To do so, we concentrated on a sample of 17 countries for which the necessary data were available for the period 2003-2008. We have also used an index for political stability, named Political Stability and Absence of Violence/ Terrorism. Our findings based on a panel data regression model support the view of a negative relationship between political stability and Inflation Tax. In other words, t he higher is the political stability, the lower will be the Inflation Tax. But the results in this research project show that, in MENA countries and in this period, the more increase in political stability will contribute to more Inflation Tax, which, this result is not acceptable; that is because of the increasing in government's expenditures, especially non-productive government expenditures and insufficient Tax revenues to finance them. Therefore, investigation over different period and more countries have been suggested.

  • Control of Corruption and Inflation Tax: New Evidence From Selected Developing Countries
    Procedia - Social and Behavioral Sciences, 2012
    Co-Authors: Ahmad Jafari Samimi, Maryam Abedini
    Abstract:

    Abstract Corruption is one of the most important factors harms all aspects of macroeconomic performances in all countries especially developing countries. In this paper the impact of corruption on Inflation Tax in selected developing countries was investigated. In an earlier work † we applied Corruption Perception Index (CPI) for corruption and used different definitions of Inflation Tax. However,present paper employs Control of Corruption Index (CCI) as a measurement of corruption and also apply different definitions for Inflation Tax. The study concentrated on a sample of 40 countries consist of Middle East and North Africa countries and other selected developing countries, for which necessary data were available for the period 2003-2010. Our. findings based on a panel data regression model support the view of a positive relationship between corruption and Inflation Tax. Therefore, policies to alleviate corruption are recommended in these countries.

Janvier D Nkurunziza - One of the best experts on this subject based on the ideXlab platform.

  • political instability Inflation Tax and asset substitution in burundi
    The Journal of African Development, 2005
    Co-Authors: Janvier D Nkurunziza
    Abstract:

    The paper shows that civil war in Burundi in the 1990s hasprovoked an unprecedented decline in government revenue.Both foreign aid transfers and revenue from domestic sourcesdried up, inducing the government to rely more on in°ationTax. Using quarterly data covering the period from 1980:1 to2002:4 to measure the sensitivity of money demand to in°a-tion we flnd that the long-run semi-elasticity of in°ation toreal money in circulation trebled between the pre-war to thewar period. The remarkable increase of the semi-elasticity re-°ects what is known in the literature as \°ight from domesticcurrency," whereby domestic currency is substituted for lessliquid assets. By shedding light on the behavior of the demandfor real money amidst persistent political and economic in-stability, this paper illustrates the limits of in°ation Tax as adependable source of government revenue.

  • how long can Inflation Tax compensate for the loss of government revenue in war economies evidence from burundi
    Development and Comp Systems, 2004
    Co-Authors: Janvier D Nkurunziza
    Abstract:

    The paper shows that civil war in Burundi in the 1990s has provoked an unprecedented decline in government revenue. Both foreign aid transfers and revenue from domestic sources dried up, inducing the government to rely more on Inflation Tax. Using quarterly data covering the period from 1980-1 to 2002-4 to measure the sensitivity of money demand to Inflation we find that the long-run semi-elasticity of Inflation to real money in circulation trebled between the pre-war to the war period. The remarkable increase of the semi-elasticity translates what is known in the literature as economic agents. .flight from domestic currency., a strategy that limits the governments capacity to use Inflation Tax to compensate for the loss in more traditional revenue sources. Shedding light on the behaviour of the demand for real money amidst persistent political and economic instability, illustrates the limits of using Inflation and money creation as a dependable source of government revenue.

  • how long can Inflation Tax compensate for the loss of government revenue in war economies
    2004
    Co-Authors: Janvier D Nkurunziza
    Abstract:

    The paper shows that civil war in Burundi in the 1990s has provoked an unprecedented decline in government revenue. Both foreign aid transfers and revenue from domestic sources dried up, inducing the government to rely more on Inflation Tax. Using quarterly data covering the period from 1980:1 to 2002:4 to measure the sensitivity of money demand to Inflation we find that the long-run semi-elasticity of Inflation to real money in circulation trebled between the pre-war to the war period. The remarkable increase of the semi-elasticity translates what is known in the literature as economic agents' 'flight from domestic currency', a strategy that limits the government's capacity to use Inflation Tax to compensate for the loss in more traditional revenue sources. Shedding light on the behaviour of the demand for real money amidst persistent political and economic instability, illustrates the limits of using Inflation and money creation as a dependable source of government revenue.