Trade and Tax Policy, Inflation and Exchange Rates - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Trade and Tax Policy, Inflation and Exchange Rates write by Assaf Razin. This book was released on 2012-12-06. Trade and Tax Policy, Inflation and Exchange Rates available in PDF, EPUB and Kindle. Ass a f R a z i nand Hans-Jiirgen Vosgerau The eight chapters of this volume have been grouped into two parts. Part A of contains chapters which are mainly monetary in character, whereas real aspects international economics are treated in Part B. It goes without saying that this is only a device for structuring the field. In substance most chapters reveal the close connections between real and monetary aspects. Part A on "Inflation, Exchange Rates, and Macro-Economic Adjustment in the Global Economy" consists of four papers. In recent years, an inflation targeting framework for monetary policy has been adopted by New Zealand, Canada, the United Kingdom, Finland, Sweden, Australia, and Spain (in chronological order). The use of inflation targeting can be viewed as a further step in the evolution of monetary policy techniques adopted by central banks. A common feature of the countries that have adopted inflation targets is the relatively poor inflation record over the last 30 years compared with other industrial countries such as Germany, Switzerland, Japan and the United States. Because of their relatively good inflation record, this latter group of countries has not explicitly adopted inflation targeting. With, or without, explicit inflation targeting the monetary policy credibility hinges on the independence of the central bank. Alex Cukierman addresses the issue of central bank independence by surveying alternative ways to characterize independence.
Trade and Tax Policy, Inflation and Exchange Rates
Trade and Tax Policy, Inflation and Exchange Rates - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Trade and Tax Policy, Inflation and Exchange Rates write by Assaf Razin. This book was released on 1997-08-19. Trade and Tax Policy, Inflation and Exchange Rates available in PDF, EPUB and Kindle.
The Taxation Implicit in Two-Tiered Exchange Rate Systems
The Taxation Implicit in Two-Tiered Exchange Rate Systems - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Taxation Implicit in Two-Tiered Exchange Rate Systems write by Harry Huizinga. This book was released on 1996-11-01. The Taxation Implicit in Two-Tiered Exchange Rate Systems available in PDF, EPUB and Kindle. A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and other financial assets. If the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is implicit taxation of the international goods trade as well. This paper presents some evidence on the tax rates and tax revenues implicit in the exchange rate systems of The Bahamas (from 1978 to 1995), the Dominican Republic (from 1970 to 1984), and South Africa (from 1973 to 1995).
Exchange Rates, Local Currency Pricing and International Tax Policies
Exchange Rates, Local Currency Pricing and International Tax Policies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rates, Local Currency Pricing and International Tax Policies write by Sihao Chen. This book was released on 2018. Exchange Rates, Local Currency Pricing and International Tax Policies available in PDF, EPUB and Kindle. Empirical evidence suggests that for many countries, retail prices of traded goods are sticky in national currencies. Movements in exchange rates then cause deviations from the law of one price, and exchange rate ëmisalignmentí, which cannot be corrected by monetary policy alone. This paper shows that a state contingent international tax policy can be combined with monetary policy to eliminate exchange rate misalignment and sustain a fully efficient welfare outcome. But this monetary-fiscal mix cannot be decentralized with non-cooperative determination of monetary and fiscal policy. Non-cooperative use of taxes and subsidies introduces strategic spillovers which opens up a fundamental conflict between the goals of output gap and inflation stabilization and those of terms of trade manipulation in an open economy. The implementation of an efficient monetary-fiscal mix requires effective cooperation in fiscal policy, while leaving monetary policy to be determined non-cooperatively. In addition, while an efficient outcome requires state contingent taxes and subsidies to eliminate exchange rate misalignment, it is still necessary to have flexible exchange rates and independent monetary policy.
Monetary Policy, Taxation, and International Investment Strategy
Monetary Policy, Taxation, and International Investment Strategy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy, Taxation, and International Investment Strategy write by Victor A. Canto. This book was released on 1990-10-17. Monetary Policy, Taxation, and International Investment Strategy available in PDF, EPUB and Kindle. Written especially for portfolio managers, financial analysts, and corporate economists, this volume considers the practical implications of government economic policies. The contributors illustrate how incentives and disincentives affect economic behavior and the performance of the economy through an in-depth discussion of monetary, fiscal, and international economic issues. In addition, the authors present a unique top-down approach that enables the reader to trace the impact of government policies through the economy and thereby discover the investment strategies most likely to be successful within a given policy context. The first section of the book focuses on monetary issues and explores issues related to inflation, likely government intervention mechanisms to control inflation, variants of the monetarist model, interpreting the demand curve, and the development of a portfolio strategy designed to take advantage of anticipated changes in financial variables. The next group of chapters looks at supply-side economics and analyzes the effects of the economic incentives and constraints imposed by government. Particular attention is paid to the effects of taxation policies on equity values, economic growth, and savings. In the third section, the contributors present a supply-side view of selected international economic issues including the relationship between tax rate reductions and foreign exchange rates and the trade balance. The concluding section examines the portfolio strategies that can be derived from the analyses presented in previous chapters. An indispensable resource for finance executives, this book will also be of significant value to graduate students in economics, financial management, and business programs.
