Ownership of Capital in Monetary Economies and the Inflation Tax on Equity

Ownership of Capital in Monetary Economies and the Inflation Tax on Equity
Financial instruments are subject to inflation taxes on the wealth they represent and on the nominal income flows they provide. This paper explicitly introduces financial instruments into the standard stochastic growth model with money and production and shows that the value of the firm in this case is equal to the firm's capital stock divided... READ MORE...

Publication date: December 1999
ISBN 9781451858167
$15.00

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