OPTIMAL INFLATION TAX AND STRUCTURAL REFORM

This paper analyzes the optimal inflation tax in economies with structural imperfections in labor, commodity, and currency markets. The Friedman rule is a classic result in economics that claims that the optimal monetary policy is to set a zero nominal interest rate. This Ramsey equilibrium is robus...

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Veröffentlicht in:	Macroeconomic dynamics 2003-06, Vol.7 (3), p.333-362
Hauptverfasser:	de V. Cavalcanti, Tiago V., Villamil, Anne P.
Format:	Artikel
Sprache:	eng
Schlagworte:	Commodities Consumption Developing countries Economic activity Economic theory Equilibrium Inflation Informal economy Interest rates LDCs Macroeconomics Monetary policy Shopping Tax reform Taxation
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