OPTIMAL RATE OF INFLATION REVISITED

被引：34

作者：

DRAZEN, A

机构：

[1] University of Chicago, Chicago

来源：

JOURNAL OF MONETARY ECONOMICS | 1979年 / 5卷 / 02期

基金：

美国国家科学基金会;

关键词：

D O I：

10.1016/0304-3932(79)90005-9

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Inflation viewed as a tax on cash balances is investigated using the optimal commodity tax framework. The optimal inflation rate is shown to depend on the effect of changes in the rate of inflation on quantity demanded of 'costly-to-produce' goods. Even when other goods are taxed, it is not always optimal to have a positive tax on money, as Phelps and others have claimed. A zero tax or even a rate of deflation greater than the pre-tax rate of interest may be optimal. © 1979.

引用

页码：231 / 248

页数：18

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