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Inflationary Finance under Discrepion and Rules

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NBER1982-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w0889
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Inflationary finance involves first, the tax on cash balances from expected inflation, and second, a capital levy from unexpected inflation. From the standpoint of minimizing distortions, these capital levies are attractive, ex post, to the policymaker. In a full equilibrium two conditions hold: 1)
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1982-05-01
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