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Fiscal Revenue And Inflationary Finance
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Book Synopsis Fiscal Revenue and Inflationary Finance by : Mr.Nurun N. Choudhry
Download or read book Fiscal Revenue and Inflationary Finance written by Mr.Nurun N. Choudhry and published by International Monetary Fund. This book was released on 1990-05-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the erosion of fiscal revenue by inflation resulting from the issuance of money. The empirical evidence for a number of developing countries supports the well-known hypothesis that an increase in inflation will result in a fall in real fiscal revenue because of collection lags, thereby possibly widening the fiscal deficit. As such, attempts to generate resources to finance government expenditures via the inflation tax will involve a loss in other revenues, making this form of taxation even less desirable.
Book Synopsis Collection Lags, Fiscal Revenue and Inflationary Financing by : Mr.Nurun N. Choudhry
Download or read book Collection Lags, Fiscal Revenue and Inflationary Financing written by Mr.Nurun N. Choudhry and published by International Monetary Fund. This book was released on 1991-04-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides empirical evidence on collection lags in major categories of government revenue and analyzes the estimated revenue-eroding effects of inflation within the standard model of inflationary finance. The evidence indicates a wide variation in collection lags among the categories of revenues. The estimated erosion of real fiscal revenue, although varied in the sample countries, appears to have substantially offset gains from the inflation tax, thereby severely restricting the use of this form of taxation in generating resources.
Book Synopsis Fiscal Revenue, Inflationary Finance and Growth by : Mr.Nurun N. Choudhry
Download or read book Fiscal Revenue, Inflationary Finance and Growth written by Mr.Nurun N. Choudhry and published by International Monetary Fund. This book was released on 1992-03-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the optimal rate of monetary expansion when government resorts to inflationary finance to generate additional investment for enhancing growth. If there are lags in tax collection, an increase in inflation erodes real fiscal revenue, thereby worsening the current balance while reducing government investment. This impedes capital accumulation as well as increases the welfare cost of inflation. As such, the optimal rate of monetary expansion, equilibrium capital-labor ratio and output are lower while the marginal cost of inflationary finance is higher than they would be without collection lags. Simulations are performed to highlight empirical implications.
Book Synopsis Fiscal Revenue and Inflationary Finance by : Nurun Choudhry
Download or read book Fiscal Revenue and Inflationary Finance written by Nurun Choudhry and published by . This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the erosion of fiscal revenue by inflation resulting from the issuance of money. The empirical evidence for a number of developing countries supports the well-known hypothesis that an increase in inflation will result in a fall in real fiscal revenue because of collection lags, thereby possibly widening the fiscal deficit. As such, attempts to generate resources to finance government expenditures via the inflation tax will involve a loss in other revenues, making this form of taxation even less desirable.
Book Synopsis Fiscal Revenue, Inflationary Finance and Growth by : Nurun Choudhry
Download or read book Fiscal Revenue, Inflationary Finance and Growth written by Nurun Choudhry and published by . This book was released on 2006 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the optimal rate of monetary expansion when government resorts to inflationary finance to generate additional investment for enhancing growth. If there are lags in tax collection, an increase in inflation erodes real fiscal revenue, thereby worsening the current balance while reducing government investment. This impedes capital accumulation as well as increases the welfare cost of inflation. As such, the optimal rate of monetary expansion, equilibrium capital-labor ratio and output are lower while the marginal cost of inflationary finance is higher than they would be without collection lags. Simulations are performed to highlight empirical implications.
Book Synopsis Fiscal Revenue Inflationary Finance and Growth by : Nurun N. Choudhry
Download or read book Fiscal Revenue Inflationary Finance and Growth written by Nurun N. Choudhry and published by . This book was released on 1999 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Collection Lags, Fiscal Revenue and Inflationary Financing by : Nurun Choudhry
Download or read book Collection Lags, Fiscal Revenue and Inflationary Financing written by Nurun Choudhry and published by . This book was released on 2006 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper provides empirical evidence on collection lags in major categories of government revenue and analyzes the estimated revenue-eroding effects of inflation within the standard model of inflationary finance. The evidence indicates a wide variation in collection lags among the categories of revenues. The estimated erosion of real fiscal revenue, although varied in the sample countries, appears to have substantially offset gains from the inflation tax, thereby severely restricting the use of this form of taxation in generating resources.
Book Synopsis Private Saving, Public Saving, and the Inflation Tax by : Mr.A. Javier Hamann
Download or read book Private Saving, Public Saving, and the Inflation Tax written by Mr.A. Javier Hamann and published by International Monetary Fund. This book was released on 1993-04-01 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present paper provides an analytical discussion on a popular issue: the measurement problems associated with the inflation tax. It is well known that conventional national accounts definitions usually misplace the proceeds from the inflation tax: they are typically not subtracted from disposable income, and they are not included as part of the Government’s revenues “above the line.” Using a simple, perfect foresight monetary model developed by Calvo (1986, 1987), this paper analyzes the difference between macroeconomically relevant concepts of public and private saving, and their national accounts counterparts. The paper goes on to show that the national account aggregates create the impression that heavier reliance on the inflation tax on the part of the Government is associated with higher private saving, even in situations where the composition of government revenues does not have any effect on private saving.
Book Synopsis Fiscal revenue, inflationary finance growth by : Nurun N. Choudhry
Download or read book Fiscal revenue, inflationary finance growth written by Nurun N. Choudhry and published by . This book was released on 1992 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal Policy, Stabilization, and Growth in Developing Countries by : Mr.Mario I. Bléjer
Download or read book Fiscal Policy, Stabilization, and Growth in Developing Countries written by Mr.Mario I. Bléjer and published by International Monetary Fund. This book was released on 1989-06-15 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.
Book Synopsis Inflation, Real Tax Revenue, and the Case for Inflationary Finance by : Vito Tanzi
Download or read book Inflation, Real Tax Revenue, and the Case for Inflationary Finance written by Vito Tanzi and published by . This book was released on 1978* with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Virtual Deficits and the Patinkin Effect by : Ms.Eliane A. Cardoso
Download or read book Virtual Deficits and the Patinkin Effect written by Ms.Eliane A. Cardoso and published by International Monetary Fund. This book was released on 1998-03-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper develops a model of inflationary finance that defines the fiscal deficit as a function of the virtual deficit—a deficit that would be observed if inflation were zero. It studies the negative relationship between the inflation rate and real government expenditures—the Patinkin effect. The model outperforms others in explaining four-digit inflation rates that never explode into hyperinflation. It also explains how apparently expansionist fiscal policies end in real deficits that are small and compatible with the small amount of seigniorage that can be collected at high inflation rates. Finally, it applies the model to the case of Brazil.
Book Synopsis Collection Lags and the Optimal Inflation Tax by : Mr.Alex Mourmouras
Download or read book Collection Lags and the Optimal Inflation Tax written by Mr.Alex Mourmouras and published by International Monetary Fund. This book was released on 1993-07-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 general equilibrium model to reject this argument, the optimal tax literature has not analyzed how collection lags affect desired tax structures. In this paper, this issue is re-examined using an overlapping generations version of Dixit’s model. It is shown that depending on the specification of the collection cost function and the size of government spending in GDP, collection lags may increase, leave unchanged, or reduce the desired rate of inflation.
Book Synopsis Government Revenue from Financial Repression by : Alberto Giovannini
Download or read book Government Revenue from Financial Repression written by Alberto Giovannini and published by World Bank Publications. This book was released on 1991 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents an analysis of the theoretical underpinnings and the relevance of the phenomenon of financial repression from a public-finance perspective. The analysis explicitly accounts for the interaction between capital controls and financial repression. The proposed empirical estimate of the revenue from financial repression is based on the difference between the domestic and the foreign cost of borrowing of the government. The correlations of the revenue from financial repression with inflation, exchange rates and per-capita income are discussed.
Book Synopsis Inflation in the World Economy by : Michael Parkin
Download or read book Inflation in the World Economy written by Michael Parkin and published by Manchester University Press. This book was released on 1976 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Tax and Deficit Financing in Egypt by : Hinh T. Dinh
Download or read book Inflation Tax and Deficit Financing in Egypt written by Hinh T. Dinh and published by World Bank Publications. This book was released on 1991 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Fiscal Theory written by Hans Brems and published by Free Press. This book was released on 1983 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
