An asset-pricing perspective on inflation reveals that it depends on current and expected monetary and fiscal policies. There are three ways to carry $1 today into the future: money, bonds, and real assets. That dollar’s purchasing power varies inversely with the price level. Expected money growth, tax rates, and government spending directly impinge on these expected rates of return of these as...

P rice-level stability is widely recognized as the principal goal of monetary policy (see, for example, Black 1990, Carlstrom and Gavin 1991, and Hoskins 1991). A program for price stability actually has two distinct objectives; achieving each objective has its own distinct benefits. The first objective is to reduce the expected rate of price inflation to zero. The second objective is to elimin...

OBJECTIVE To develop a simulation model to predict the effects of tax policies on smoking prevalence rates and smoking attributable deaths. METHODS Using data from Taiwan, a simulation model is developed that projects population using birth and death rate data, future smoking rates using initiation, cessation and relapse data, and smoking attributable deaths using smoking prevalence and relat...

Among the distortions generated by inflation, those caused by its interaction with taxation are particularly important. Due to the non-indexation of the tax system, inflation exacerbates the inefficiencies generated by taxation. The aim of this paper is to evaluate the welfare effects of these distortions in New Zealand. By using a stylised model of the New Zealand tax system, the tax burden on...

The study investigates the impact of taxation on the Nigerian economy for the period 1994 -2012.The dependent variables used in the model includes: Gross Domestic Product (GDP) as a parameter for measuring economic growth, Inflation and unemployment. The objective is this study is to determine how taxation affects these macroeconomic variables. To avoid spurious results, the data set collected ...

in order to estimate the effects of the macrc~econornic indicators on the income distribution of iran, the time series data during the period of 1971-1991 were used. first the yammetric inequality indicators (the gini coefficients) were estimated for the years 1991-1972. the results show the lowest level of inequality in 1980 with g=0.42 and the highest level in 1982 with g=0.55. arzulysing the...

this paper reviews the relationship between inflation rate and minimum wage in iran’s economy over the 1969-2005. according to the economic literature, there is a narrow relationship between inflation rate and minimum wage. some economists believe in increased inflation due to minimum wage. the other group of economists considers the increased inflation as a cause for increasing minimum wage. t...

iran’s economy has experienced an average inflation rate of 18.77 percent during the period of 1979-2010. many economists believe that the budget deficits are one of the main determinants of the chronic and relatively high inflation. this paper investigates the relationship between budget deficits and inflation. dynamics of iran’s monetary sector, based on the three cointegration relations i.e....