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|c 5.00 USD
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|z 9781451858167
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Cosimano, Thomas.
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|a Ownership of Capital in Monetary Economies and the Inflation Tax on Equity /
|c Thomas Cosimano, Ralph Chami, Connel Fullenkamp.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 1999.
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| 300 |
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|a 1 online resource (44 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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 by inflation. The resulting asset-pricing conditions indicate that the effect of inflation on asset returns differs from the effects found in other papers by the addition of a significant wealth tax.
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| 538 |
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|a Mode of access: Internet
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|a Chami, Ralph.
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|a Fullenkamp, Connel.
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|a IMF Working Papers; Working Paper ;
|v No. 1999/167
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/1999/167/001.1999.issue-167-en.xml
|z IMF e-Library
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