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Showing results 1 to 10 of approximately 16.
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Journal Article
The Reagan economic plan--supply-side, budget and inflation
AUTHORS: Tobin, James
DATE: 1981
Journal Article
Volatility in money and interest
AUTHORS: Scadding, John L.; Judd, John P.
DATE: 1982
Journal Article
A \\"supply-side miracle\\"?
AUTHORS: Throop, Adrian W.
DATE: 1984
Working Paper
Supply-side sources of inflation: evidence from OECD countries.
We evaluate the merits of the "supply-side" view under which inflation results from sectoral shocks, and compare it with the "classical" view in which inflation results from aggregate factors such as variations in money growth. Using a panel VAR methodology applied to data for 13 GECD countries, we find support for a multi-shock view of inflation: supply-side shocks are statistically significant determinants of inflation, even after taking into account aggregate demand factors. While oil prices are the dominant supply-side influence, other measures such as the skewness of relative price changes are important as well. At short horizons, an innovation to skewness leads to an increase in inflation of 0.5 percentage points. As suggested by the classical view, money growth plays an increasingly important role as the time horizon lengthens.
AUTHORS: Swagel, Phillip; Loungani, Prakash
DATE: 1995
Working Paper
Supply-side economics in a global economy
Recent quantitative studies predict large welfare gains from reducing tax distortions in a closed economy, despite costly transitional dynamics to more efficient tax systems. This paper examines transitional dynamics and gains of tax reforms for countries in a global economy, and provides numerical solutions for international tax competition games. Tax reforms in a global economy cause cross-country externalities through capital flows in response to consumption-smoothing and debt-servicing effects, with taxes on world payments affecting the distribution of welfare gains. Within the class of time-invariant tax rates, the gains of replacing income taxes with consumption taxes are large and, in the absence of taxes on foreign assets, the monopoly distortion separating cooperative and noncooperative equilibria is negligible. The analysis starts from a benchmark reflecting current G-7 fiscal policies, and considers the effects of tax reforms on real exchange rates and interest differentials. Tax-distorted equilibrium dynamics are computed using a modified version of the King-Plosser-Rebelo algorithm augmented with shooting routines.
AUTHORS: Tesar, Linda L.; Mendoza, Enrique G.
DATE: 1995
Conference Paper
Financial firm's production and supply-side monetary aggregation under dynamic uncertainty
AUTHORS: Barnett, William A.; Zhou, Ge
DATE: 1994
Conference Paper
Financial firm's production and supply-side monetary aggregation under dynamic uncertainty: commentary
AUTHORS: Brainard, William C.
DATE: 1994
Conference Paper
Financial firm's production and supply-side monetary aggregation under dynamic uncertainty: response to commentary
AUTHORS: Zhou, Ge; Barnett, William A.
DATE: 1994
Journal Article
Financial firm's production and supply-side monetary aggregation under dynamic uncertainty
AUTHORS: Zhou, Ge; Barnett, William A.
DATE: 1994
Journal Article
Financial firm's production and supply-side monetary aggregation under dynamic uncertainty: commentary
AUTHORS: Brainard, William C.
DATE: 1994