Correção monetária e indexação: experiência brasileira e experiência Israelense

O interesse crescente que as propostas do indexação tem atraído nas economias desenvolvidas nos anos recentes inevitavelmente levantou questões sobre o sucesso da indexação nas economias que a adotaram no passado, e sobre a possibilidade de se repetir a experiência em outros lugares. Neste artigo a utilização da indexação será comparada em dois dos três países onde tem sido extensivamente praticada: Brasil e Israel

Taxes and the Price Level

The effects of taxation on the general price level have traditionally been regarded as reflecting monetary policy, rather than fiscal factors. This view abstracted from the possible endogeneity of monetary expansion with respect to tax hikes, and from the effects which taxation may have on the reserve price of entrepreneurial labor. An analysis of Purchasing Power Parity data for 51 countries from stage IV of the ICP project supports the hypothesis that domestic indirect taxes tend to raise the general price level. In contrast to the accepted view, other prices do not seem to decline to offset the effect of such taxes on the price of tradables. The paper also presents some new evidence on the other factors which cause national price levels to diverge from PPP.Purchasing power parity;Taxation;Prices;Indirect taxation;price level, tax burden, general price level, relative price, domestic indirect taxes, tax revenues, fiscal variables, fiscal data, public finance, tax revenue, quantity theory, money supply, relative prices, tax rates, inflation, fiscal deficit, tax shifting, tax evasion, rate of inflation, fiscal affairs department, foreign exchange, public debt, tax avoidance, fiscal affairs, monetary policy, money stock, rational expectations, fiscal burden, fiscal factors, fiscal risk, central government expenditure, tax authorities, fiscal structure, fiscal rules, dollar value, tax liability, real exchange rates, fiscal policy, tax payments, government deficit, tax rebates, stock of money, tax systems, government revenue

National Price Levels: Do Taxes Matter?

Utilizing a sample of 51 countries for which price leveldata for 1980 were available from stage IV of the ICP project,the paper examines the possible role of taxes in explaining thedeparture of national price levels from purchasing power parities.The results obtained in the paper suggest that the overall burdenof central government taxation, especially of indirect domestictaxes, raises the general price level. No such price effectsseem to be associated with the direct tax burden, supportingthe conventional view of their not being shifted forward. Theperhaps unexpected result, that import duties have no discernibleeffects on the price level, is consistent with earlier findings.Another unexpected result is that the burden of domestic indirecttaxation expresses itself in the prices of tradables, ratherthan of non-tradables. Furthermore, no evidence was found tosupport the view, that tax inflated prices are offset by reducedprices in the untaxed sector, as required for the price levelto be neutral with respect to taxation. Copyright Kluwer Academic Publishers 1997

From Bastiat's circumference to Knight's wheel: a newly discovered letter of Mr Sherlock Holmes to Dr Watson

This paper continues the investigation of the antecedents of the Wheel of Wealth, initiated by Don Patinkin as a by-product of his 1973 memoir of Frank Knight. A series of partly chance leads pointed to Bastiat as the earliest author to have employed circle or wheel diagram in an associated context, and one with whose writings most later users of it were acquainted. Although Patinkin mistakenly concluded that late-nineteenth century Contitental European literature completely eschewed diagrams, he was right in hypothesizing the wheel diagram to have originated outside the main stream of economic thought.Bastiat, Knight, wheel-of-wealth, value theory,