Gavin, William T. (contributor); … - 2004 - [Elektronische Ressource]
equal to unity.
8
Note that, in addition to the
inflation tax, both the labor and bond tax rates affect real money demand …, calculated using the NBER TAXSIM
model and reported in Table 9 of Feenberg and Poterba (2003). They report 24 percent for labor … the monetary policy shock to the trend in M2 growth.
12
the capital gains is reset to the current market value and no …