analysis of inflation, external debt and financial sector reform in Turkey … macroeconomic targets, such as output growth and the rate of inflation. The model centers around the government budget constraint … and can be used to either derive the financeable deficit given inflation targets, or to derive an equilibrium inflation …

Optimal tax theory has shown that, under weak assumptions, indirect taxation such as production subsidies, tariffs, or …. However, these important results of optimal tax theory, namely production efficiency and uniform commodity taxation under non …

Three ways of averting "excess saving" have been emphasized in both theory and practice. The thrust of the Keynesian … JamesTobin, relies on increasing the rate of inflation and making money less attractive relative to real capital. In Tobin …. This paper will examine ways of increasing capital intensity without raising the rate of inflation. The analysis will also …

The fiscal theory says that the price level is determined by the ratio of nominal debt to the present value of real … primary surpluses. I analyze long-term debt and optimal policy in the fiscal theory. I find that the maturity structure of the … debt matters. For example, it determines whether news of future deficits implies current inflation or future inflation …

An asset-pricing perspective on inflation reveals that it depends on current and expected monetary and fiscal policies … rates of return of these assets, and determine the price level and the inflation rate. The paper considers a tax reduction … cut can imply very different outcomes for inflation …

. Inflation may be positive throughout, so the absence of deflation is not evidence against a liquidity trap. Output, on the other …

current and future inflation innovations to revalue government debt, reducing reliance on distorting taxes; (2) the role of … inflation in optimal fiscal financing increases with the average maturity of government debt; (3) as average maturity rises, it … is optimal to tradeoff inflation for output stabilization; (4) inflation is relatively more important as a fiscal shock …

common monetary authority chooses inflation for the union, also without commitment. We first describe the existence of a … wisdom that all countries should prefer a union with low-debt members, as such a union can credibly deliver low inflation …