G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w1375
来源IDWorking Paper 1375
Optimal Taxation by the Monetary Authority
Carl E. Walsh
发表日期1984-06-01
出版年1984
语种英语
摘要Reserve requirements imposed against bank deposits, nominal interest payments on bank reserves (or on base money), and inflation can all be viewed as generating tax effects. Any analysis of optimal monetary policy in a steady-state equilibrium needs to consider the simultaneous choice of all the tax instruments controlled by the monetary authority. Such an analysis is carried out in this paper. It is shown that when the tax system is not indexed, the optimal nominal interest rate on the monetary authority's liabilities is likely to be zero. More importantly, any discussion of the payment of interest on reserves and currency must take into account the nature of the tax system and the rate of inflation in a nonindexed economy.
主题Macroeconomics
URLhttps://www.nber.org/papers/w1375
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/558608
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GB/T 7714
Carl E. Walsh. Optimal Taxation by the Monetary Authority. 1984.
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