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Journal Article
The base money paradox
Journal Article
Money and deflation in Japan
Journal Article
Bond market inflation credibility
Conference Paper
How fast does inflation adjust to its underlying determinants?
Journal Article
Monetarism is dead; long live the quantity theory
Journal Article
U.S. official forecasts of G-7 economies, 1976-90
Journal Article
Deficits and monetary growth
Journal Article
Inflation, real interest tax wedges, and capital formation
William G. Dewald, director of research for the St. Louis Fed, examines how inflation magnifies the distorting effects of taxation when the tax treatment of interest income and expense is not fully indexed to inflation. The distortion involves a real interest tax wedge which is the difference between the real before-tax interest rate that influences fully taxed investors and the real after-tax interest rate that influences savers. Reducing the real tax wedge by eliminating inflation or indexing would stimulate private saving and nonresidential investment but decrease tax receipts and the tax ...
Journal Article
M2 velocity looks to be on a new track