Explosive Hyperinflation, Inflation-Tax Laffer Curve, and Modeling the Use of Money
Dados Bibliográficos
| ID | 24039741 |
|---|---|
| Autores | Marı́a-José Gutiérrez (0000-0003-3074-0854, University of the Basque Country), María-José Gutiérrez, Jesús Vázquez (0000-0003-4788-4838, University of the Basque Country) |
| Ano | 2004 |
| Volume | 160 |
| Fascículo | 2 |
| Páginas | 311-326 |
| Data de publicação | 2004-01-01 |
| Peer Reviewed | Sim |
| Open Access | Não |
| Tipo | ARTICLE |
| Periódico | Journal of Institutional and Theoretical Economics JITE (JOURNAL) |
| Identificadores do periódico | ISSN: 0932-4569 • E-ISSN: 1614-0559 |
| Editora | Mohr Siebeck (PUBLISHER) |
| DOI | 10.1628/0932456041438786 |
| OpenAlex | W2122607473 |
| Idioma | EN |
| Referências citadas | 3 |
This paper analyzes the existence of an inflation-tax Laffer curve (ITLC) in the context of two optimizing monetary models. Explosive hyperinflation rules out the presence of an ITLC. In a cash-in-advance economy, this paper shows that explosive hyperinflation is possible and thus an ITLC is ruled out whenever the relative risk aversion parameter is greater than one. In a money-in-the-utility-function model, it is shown that (i) an ITLC is also ruled out and (ii) explosive hyperinflations are more likely when the transactions role of money is more important.
Economics · Hyperinflation · Inflation (cosmology) · Inflation tax · Keynesian economics · Laffer curve · Macroeconomics · Monetary economics · Monetary policy · Public economics · State income tax · Tax reform · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
| Velocidade de citação | historical |
|---|---|
| Altamente citado | Não |