Some access pricing regimes derive allowable cash flows to provide investors with an expectation of receiving a required real pre – (company) tax rate of return, with compensation for inflation built in via the allowable return of capital (depreciation). The required real pre-tax return is derived from nominal (or real) post-tax required returns. Techniques commonly used to transform post tax i...

distribution income show how national income divide between economic sectors and social groups. it effect on social justice and many factors effect on it, such as productivity of labor force and employment rate. in this paper, factors affecting distribution income, especially productivity of labor force have been analyzed by panel data model for 32 countries during 1998-2005. the results show e...

We explicitly consider strategic interaction between governments to study currency competition and its effects on the circulation of currencies and welfare in a two-country twocurrency search theoretic model. Each government finances public goods by means of seigniorage. Compared with a regime with two local currencies, a regime with one international currency allows the issuer of the internati...

This paper does two things. First, it shows both anecdotal and cross-country evidence that indicates that countries that have experienced hyperinflation display significantly lower long-term rates of inflation than countries that lack the same experience. Secondly, it presents a model to rationalize the main empirical finding. There is more than one mechanism through which the long-term effects...

Differential tax analysis is used to show how the optimal mix of inflation tax and direct taxation changes with the relative size of the hidden economy. The larger the relative size of the hidden economy, the smaller the optimal ratio of direct tax to inflation tax. Anecdotal empirical evidence supports this result. JEL Classification: E62, H21, H26, O17.

Joint modelling of fiscal and monetary policies should elucidate on their interaction. We estimate a large parsimonious structural vector equilibrium correction model (PSVECM) to analyse the dynamics of eight variables from the US economy. Shocks to fiscal and monetary variables reveal interesting observations, with the results broadly in agreement with economic theory. A shock to only governme...

During times of inflation, the use of the last-in, first-out (LIFO) method of inventory valuation has the effect of lowering the reported earnings by excluding inventory holding gains from this number. Current income tax payments due on the reduced earnings are also lower. Taxes payable on inventory holding gains, therefore, are postponed until some future period when the inventory is liquidate...