Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125695665> ?p ?o ?g. }
Showing items 1 to 85 of
85
with 100 items per page.
- W3125695665 abstract "In this paper we study the optimal monetary and fiscal policy mix in a model in which agents are subject to idiosyncratic uninsurable shocks to their labor productivity. We identify two main effects of anticipated inflation absent in representative agent frameworks. First, inflation stimulates saving for precautionary reasons. Hence, a higher level of anticipated inflation implies a higher capital stock in steady state, which translates into higher wages and lower taxes on labor income. This benefits poor, less productive agents. Second, inflation acts as a regressive consumption tax, which favors rich and productive agents. We calibrate our model economy to the U.S. economy and compute the optimal policy mix. We find that, for a utilitarian government, the Friedman rule is optimal even when we allow for the presence of heterogeneity and uninsurable idiosyncratic risk. Although the aggregate welfare costs of inflation are small, individual costs and benefits are large. Net winners from inflation are poor, less productive agents, while middle-class and rich households are always net losers." @default.
- W3125695665 created "2021-02-01" @default.
- W3125695665 creator A5087488639 @default.
- W3125695665 date "2011-02-01" @default.
- W3125695665 modified "2023-09-27" @default.
- W3125695665 title "Seigniorage and Distortionary Taxation in a Model with Heterogeneous Agents and Idiosyncratic Uncertainty" @default.
- W3125695665 hasPublicationYear "2011" @default.
- W3125695665 type Work @default.
- W3125695665 sameAs 3125695665 @default.
- W3125695665 citedByCount "0" @default.
- W3125695665 crossrefType "posted-content" @default.
- W3125695665 hasAuthorship W3125695665A5087488639 @default.
- W3125695665 hasConcept C100243477 @default.
- W3125695665 hasConcept C106159729 @default.
- W3125695665 hasConcept C121332964 @default.
- W3125695665 hasConcept C126285488 @default.
- W3125695665 hasConcept C139719470 @default.
- W3125695665 hasConcept C144024400 @default.
- W3125695665 hasConcept C162324750 @default.
- W3125695665 hasConcept C166957645 @default.
- W3125695665 hasConcept C183582576 @default.
- W3125695665 hasConcept C200941418 @default.
- W3125695665 hasConcept C204983608 @default.
- W3125695665 hasConcept C2775891139 @default.
- W3125695665 hasConcept C2780089521 @default.
- W3125695665 hasConcept C2780138423 @default.
- W3125695665 hasConcept C30772137 @default.
- W3125695665 hasConcept C33332235 @default.
- W3125695665 hasConcept C34447519 @default.
- W3125695665 hasConcept C36289849 @default.
- W3125695665 hasConcept C556758197 @default.
- W3125695665 hasConcept C7386506 @default.
- W3125695665 hasConcept C80212096 @default.
- W3125695665 hasConcept C83646750 @default.
- W3125695665 hasConcept C95457728 @default.
- W3125695665 hasConceptScore W3125695665C100243477 @default.
- W3125695665 hasConceptScore W3125695665C106159729 @default.
- W3125695665 hasConceptScore W3125695665C121332964 @default.
- W3125695665 hasConceptScore W3125695665C126285488 @default.
- W3125695665 hasConceptScore W3125695665C139719470 @default.
- W3125695665 hasConceptScore W3125695665C144024400 @default.
- W3125695665 hasConceptScore W3125695665C162324750 @default.
- W3125695665 hasConceptScore W3125695665C166957645 @default.
- W3125695665 hasConceptScore W3125695665C183582576 @default.
- W3125695665 hasConceptScore W3125695665C200941418 @default.
- W3125695665 hasConceptScore W3125695665C204983608 @default.
- W3125695665 hasConceptScore W3125695665C2775891139 @default.
- W3125695665 hasConceptScore W3125695665C2780089521 @default.
- W3125695665 hasConceptScore W3125695665C2780138423 @default.
- W3125695665 hasConceptScore W3125695665C30772137 @default.
- W3125695665 hasConceptScore W3125695665C33332235 @default.
- W3125695665 hasConceptScore W3125695665C34447519 @default.
- W3125695665 hasConceptScore W3125695665C36289849 @default.
- W3125695665 hasConceptScore W3125695665C556758197 @default.
- W3125695665 hasConceptScore W3125695665C7386506 @default.
- W3125695665 hasConceptScore W3125695665C80212096 @default.
- W3125695665 hasConceptScore W3125695665C83646750 @default.
- W3125695665 hasConceptScore W3125695665C95457728 @default.
- W3125695665 hasLocation W31256956651 @default.
- W3125695665 hasOpenAccess W3125695665 @default.
- W3125695665 hasPrimaryLocation W31256956651 @default.
- W3125695665 hasRelatedWork W1605545715 @default.
- W3125695665 hasRelatedWork W2060083001 @default.
- W3125695665 hasRelatedWork W2061606745 @default.
- W3125695665 hasRelatedWork W2274666357 @default.
- W3125695665 hasRelatedWork W2286578558 @default.
- W3125695665 hasRelatedWork W2801825097 @default.
- W3125695665 hasRelatedWork W2892246203 @default.
- W3125695665 hasRelatedWork W2900987204 @default.
- W3125695665 hasRelatedWork W3016661542 @default.
- W3125695665 hasRelatedWork W3121144118 @default.
- W3125695665 hasRelatedWork W3122029325 @default.
- W3125695665 hasRelatedWork W3122920180 @default.
- W3125695665 hasRelatedWork W3123731530 @default.
- W3125695665 hasRelatedWork W3124251042 @default.
- W3125695665 hasRelatedWork W3124263816 @default.
- W3125695665 hasRelatedWork W3124868388 @default.
- W3125695665 hasRelatedWork W3124957323 @default.
- W3125695665 hasRelatedWork W3125273787 @default.
- W3125695665 hasRelatedWork W3126129898 @default.
- W3125695665 hasRelatedWork W2326297067 @default.
- W3125695665 isParatext "false" @default.
- W3125695665 isRetracted "false" @default.
- W3125695665 magId "3125695665" @default.
- W3125695665 workType "article" @default.