Do government policy multipliers decrease with inflation?

Article Abstract:

A study that investigated the effects of inflation upon government spending and monetary policy multipliers using cross-country data, which is a strategy used by Ball, Mankiw and Romer was conducted. However, the results did not resemble similar research undertaken by Ball, Mankiw and Romer due to the consideration of differential impacts of both government spending and monetary base. Findings reveal that significant evidence has not been found to support the New Keynesian theory, which proposes that sticky prices increase the size of monetary policy and government spending multipliers.

Prices, Models, Inflation (Finance), Keynesian economics, Multipliers (Economics), Inflation (Economics)

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Wealth-varying intertemporal elasticities of substitution: evidence from panel and aggregate data

Article Abstract:

The study proposes to measure the degree of economically significant differences in the intertemporal elasticity of substitution (IES) of poor and rich consumers and nations. To achieve the objective, the study builds and estimates a framework of consumer preferences in which the IES of consumption expenditure increases with the level of wealth. Results show that significant differences exist in the IES of rich and poor consumers in the Indian panel data as well as significant differences in the IES quantified in aggregate data for India and the US.

Consumption (Economics), Substitution (Economics)

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The marginal income tax rate schedule from 1930 to 1990

Article Abstract:

A computer program is used for the accurate calculation of the marginal income tax rates for all income levels from the year 1930 up to the year 1990. A preliminary empirical investigation is conducted to probe the possible effect of taxes on economic growth. Findings indicate that lowering taxes and changing the tax rate schedule yield positive effects on economic growth.

Public Finance Activities, Personal Income Taxes, Corporate Income Taxes, Analysis, Economic development, Income tax, Personal income tax, Marginal productivity

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