On the Almost Neutrality of Inflation: Notes on Taxation and the Welfare Costs of Inflation / Joseph E. Stiglitz.

Format:

Book

Author/Creator:

Stiglitz, Joseph E.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w0499.

NBER working paper series no. w0499

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

On the Almost Neutrality of Inflation

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1980.

Summary:

In this paper I attempt to clarify the nature of the losses associated with inflation within a conventional model of a competitive economy. I shall argue that were inflation fully anticipated, it would be "almost neutral" provided (a) that the tax system were fully indexed and (b) that interest were paid on bank deposits (as to an increasing extent it is in the United States). However, unanticipated inflation may have significant effects.

Notes:

Print version record

July 1980.