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The Role of Fiscal Policy in Sustainable Stabilization

The Role of Fiscal Policy in Sustainable Stabilization »

Source: The Role of Fiscal Policy in Sustainable Stabilization : Evidence From Latin America

Volume/Issue: 1997/94

Series: IMF Working Papers

Author(s): Gerd Schwartz , and Teresa Ter-Minassian

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 1997

ISBN: 9781451950786

Keywords: Stabilization, Latin America, inflation, fiscal adjustment, tax revenue, inflation tax

This paper reviews the role of fiscal policy in a number of stabilization programs in Latin America since the early 1980s. The paper highlights the importance of sustainable fiscal adjustment in stabilization effor...

Fiscal Balance During Inflation, Disinflation, and Immigration

Fiscal Balance During Inflation, Disinflation, and Immigration »

Source: Fiscal Balance During Inflation, Disinflation, and Immigration : Policy Lessons

Volume/Issue: 1996/33

Series: IMF Working Papers

Author(s): Assaf Razin , and Efraim Sadka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1996

ISBN: 9781451979312

Keywords: inflation, public debt, tax burden, aggregate demand, tax revenues

The paper provides an overview of the role of the fiscal imbalances and the ensuing public debt in explaining major episodes in Israel’s recent economic developments. The main conclusions from the Israeli bu...

The Optimal Mix of Inflationary Finance and Commodity Taxation with Collection Lags

The Optimal Mix of Inflationary Finance and Commodity Taxation with Collection Lags »

Source: The Optimal Mix of Inflationary Finance and Commodity Taxation with Collection Lags

Volume/Issue: 1990/87

Series: IMF Working Papers

Author(s): Avinash Dixit

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1990

ISBN: 9781451953169

Keywords: inflation, inflation tax, monetary fund, real value

When there are collection lags in the tax system, inflation reduces the real revenues. This is often offered as an argument for less reliance on the inflation tax. But the optimal rates of other taxes should also b...

From the Debt Crisis toward Economic Stability

From the Debt Crisis toward Economic Stability »

Source: From the Debt Crisis toward Economic Stability : An Analysis of the Consistency of Macroeconomic Policies in Mexico

Volume/Issue: 1992/17

Series: IMF Working Papers

Author(s): Liliana Rojas-Suárez

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1992

ISBN: 9781451843453

Keywords: inflation rate, real interest rates, inflationary tax, inflation rates

This paper uses a simple framework based on the government budget constraint to analyze the consistency of macroeconomic policies undertaken in Mexico during the period 1978 to mid-1991. It was found that the inter...

Azerbaijan

Azerbaijan »

Source: Azerbaijan : Recent Economic Developments

Volume/Issue: 1995/119

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 19 December 1995

ISBN: 9781451802504

Keywords: inflation, foreign exchange, inflation tax, foreign currency, natural gas

This paper reviews economic developments in Azerbaijan during the 1990s. In 1992, approximately 70-80 percent of producer and consumer prices were liberalized, and enterprises were allowed greater latitude in their...

Taxes and the Price Level

Taxes and the Price Level »

Source: Taxes and the Price Level : A Further Examination of the PPP Hypothesis

Volume/Issue: 1993/5

Series: IMF Working Papers

Author(s): Ephraim Kleiman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 1993

ISBN: 9781451842104

Keywords: price level, tax burden, general price level, relative price

The effects of taxation on the general price level have traditionally been regarded as reflecting monetary policy, rather than fiscal factors. This view abstracted from the possible endogeneity of monetary expansio...

Collection Lags and the Optimal Inflation Tax

Collection Lags and the Optimal Inflation Tax »

Source: Collection Lags and the Optimal Inflation Tax : A Reconsideration

Volume/Issue: 1993/60

Series: IMF Working Papers

Author(s): José Tijerina , and Alex Mourmouras

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1993

ISBN: 9781451965346

Keywords: rate of inflation, inflation tax, money demand, monetary fund

The observation that collection lags combine with inflation to erode fiscal revenues has long been a strong argument against seigniorage (Tanzi (1978)). However, with the exception of Dixit (1991), who used a gener...

Contacts, Credibility and Common Knowledge

Contacts, Credibility and Common Knowledge »

Source: Contacts, Credibility and Common Knowledge : Their Influenceon Inflation Convergence

Volume/Issue: 1989/27

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 April 1989

ISBN: 9781451981551

Keywords: inflation, inflation rate, monetary policy, inflation tax, price level

This paper explains why sovereign issuers of reserve currencies do not use unexpected inflation to repudiate their foreign liabilities. Monetary restraint is exercised because of the fear that reserve users will sw...

Government Spending and Inflationary Finance

Government Spending and Inflationary Finance »

Source: Government Spending and Inflationary Finance : A Public Finance Approach

Volume/Issue: 1988/98

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 07 November 1988

ISBN: 9781451949025

Keywords: government spending, inflation, inflation tax, nominal interest rate, public finance

This paper analyzes the relationship between inflation tax and the level of government spending in a public finance context. The key feature of the model developed is that it recognizes the possibility that convent...

Monetary Indexation and Revenues from Money Creation

Monetary Indexation and Revenues from Money Creation »

Source: Monetary Indexation and Revenues from Money Creation : The Case of Iceland

Volume/Issue: 1990/20

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1990

ISBN: 9781451921939

Keywords: inflation, central bank, inflation rate, inflation tax, demand for money

This paper discusses the effects of monetary indexation on the revenues from monetization in Iceland. The paper starts by showing that monetization revenues fell sharply after indexation was introduced in 1979 and...