Title: Taxation, inflation, and interest rates /
Authors: Tanzi, Vito.; International Monetary Fund.; International Monetary Fund.
Date: 1984
Publisher: International Monetary Fund,
Physical description: xxiv, 247 pages : illustrations ; 24 cm
Language: English
LC classification: H
Abstract: The behavior of interest rates in major industrial countries affects capital movements and, consequently, exchange rates and trade flows. It can also influence the attitude of policymakers toward the growth of the money supply as well as the cost of servicing the external debt of the developing countries. The nine studies that comprise the book open up a new and exciting area of research in monetary-fiscal links in both closed and open economies. They integrate the theoretical effects of tax policies on interest rates and demand for money with those on exchange rates and international capital movements and analyze the impact of tax treatments of interest income and expense previling in industrial countries on macroeconomic variables. They deal, therefore, with issues that are of mutual interest to fiscal economists, monetary economists, and specialists in international trade and finance. As interest rates in industrial countries have been higher and more varaible in recent years than at any time over recent decades, these studies should be of interest to both policymakers and academicians.
Contents: Interest rates and tax treatment of interest income and expense / Fiscal Affairs Department -- Recent literature on the impact of taxation and inflation on interest rates / Uri Ben-Zion -- Recent literature on the impact of taxation and inflation on the international financial market / Uri Ben-Zion -- Level and volatility of U.S. interest rates: roles of expected inflation, real rates, and taxes / John H. Makin and Vito Tanzi -- Inflation and the incidence of income taxes on interest income in the United States, 1972-81 / Vito Tanzi -- Inflationary expectations, taxes, and the demand for money in the United States / Vito Tanzi -- Inflation, taxation, and the rate of interest in eight industrial countries, 1961-82 / Menachem Katz -- Financial market taxation and international capital flows / Mario I. Blejer -- Impact of taxation on international capital flows: some empirical results / Menachem Katz.
Notes: Issued with various printing dates.
Subject headings (LCSH): Inflation (Finance)--Effect of taxation on; Interest rates--Effect of inflation on--United States.; Interest rates--Effect of inflation on.; Interest--Taxation--United States.; Interest--Taxation.; Taxation--Effect of inflation on