The optimal mix of taxes on money, consumption and income

Journal of Monetary Economics

Volumn 50, Issue 4, 2003, Pages 871-887

  De Fiore, Fiorella ^a   Teles, Pedro ^b,c,d,e  

^a EUROPEAN CENTRAL BANK   (Germany)

^b FEDERAL RESERVE BANK OF CHICAGO   (United States)

^c CEPR   (United Kingdom)

^d BANCO DE PORTUGAL   (Portugal)

^e CATHOLIC UNIVERSITY OF PORTUGAL   (Portugal)

Author keywords

Friedman rule; Inflation tax; Transactions technology

Indexed keywords

EID: 0038243092     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0304-3932(03)00034-5     Document Type: Article

References (21)

1. Barro R.J. Integral constraints and aggregation in an inventory model of money demand Journal of Finance 31 1976 77-87
2. Baumol W.J. The transactions demand for cash: an inventory theoretic approach Quarterly Journal of Economics 66 1952 545-556
3. Braun A. Another attempt to quantify the benefits of reducing inflation Federal Reserve Bank of Minneapolis Quarterly Review 18 4 1994 17-25
4. Chari V.V. Christiano L.J. Kehoe P.J. Optimality of the Friedman rule in economies with distorting taxes Journal of Monetary Economics 37 1996 203-223
5. Correia I. Teles P. Is the Friedman rule optimal when money is an intermediate good? Journal of Monetary Economics 38 1996 223-244
6. Correia I. Teles P. The optimal inflation tax Review of Economic Dynamics 2 1999 325-346
7. Correia I. Nicolini J.P. Teles P. Optimal fiscal and monetary policy: equivalence results 2001 Mimeo Banco de Portugal
8. De Fiore, F., 2000. Can indeterminacy explain the short run non-neutrality of money? European Central Bank Working Paper 32.
9. Diamond, P.A., Mirrlees, J.A., 1971. Optimal taxation and public production. American Economic Review 61(1-3), 8-27, 261-268.
10. Dixit A. The optimal mix of inflationary finance and commodity taxation with collection lags IMF Staff Papers 38 3 1991 643-654
11. Friedman M. The optimum quantity of money In: Friedman M. (Ed.), The Optimum Quantity of Money and other Essays 1969 1-50 Aldine Chicago
12. Guidotti P.E. Exchange rate determination, interest rates and an integrative approach to the demand for money Journal of International Money and Finance 8 1989 29-45
13. Guidotti P.E. Végh C.A. The optimal inflation tax when money reduces transactions costs Journal of Monetary Economics 31 1993 189-205
14. Jovanovic B. Inflation and welfare in the steady state Journal of Political Economy 90 1982 561-577
15. Kimbrough K.P. The optimum quantity of money rule in the theory of public finance Journal of Monetary Economics 18 1986 277-284
16. Marshall D.A. Inflation and asset returns in a monetary economy Journal of Finance 47 1992 1315-1342
17. Mulligan, C.B., Sala-i-Martin, X., 1996. Adoption of financial technologies: implications for money demand and monetary policy. NBER Working Paper Series 5504.
18. Mulligan C. Sala-i-Martin X. The optimum quantity of money: theory and evidence Journal of Money, Credit, and Banking 29 4 1997 687-715
19. Phelps E.S. Inflation in the theory of public finance Swedish Journal of Economics 75 1973 37-54
20. Tobin J. The interest elasticity of the transactions demand for cash Review of Economics and Statistics 38 1956 241-247
21. Végh C.A. The optimal inflation tax in the presence of currency substitution Journal of Monetary Economics 24 1989 139-146