Recent years have witnessed very high and volatile interest rates. This has stirred a debate among analysts as to whether observed interest rates are high by historical standards. Some analysts, focusing on the before-tax real rate, argue that if the observed nominal interest rate is corrected for the effect of expected (or actual) inflation, the ex ante (or ex post) real rate has been very hig...

The paper discusses the implications of optimal tax theory for the debates on uniform commodity taxation and neutral capital income taxation. While strong administrative and political economy arguments in favor of uniform and neutral taxation remain, recent advances in optimal tax theory suggest that the information needed to implement the differentiated taxation prescribed by optimal tax theor...

We consider the joint effect of profit and Pigouvian taxation in a model of imperfect competition. We show that, when both profit taxation and Pigouvian taxation/subsidy are used, the former is no longer neutral. The two fiscal tools are substitutes, and for any profit taxation rate there exists a unique Pigouvian tax that entails the first best outcome as an equilibrium. Our analysis therefore...

Purpose: Governments rely on taxes, but a high tax rate can slow economic growth. Fiscal policy objectives be achieved most effectively by lowering collection costs and boosting growth through efficient taxation. This study aims to find the impact of revenue Pakistan's growth.
 Design/Methodology/Approach: The time series dataset spanning 1985–2021 is used for current analysis. GDP as depe...

To analyze the optimal social insurance package, we set up a two-period life-cycle model with risky human capital investment, where the government has access to labor taxation, education subsidies and capital taxation. Social insurance is provided by redistributive labor taxation. Moreover, both education subsidies and capital taxation are used as catalyzers to facilitate social insurance by mi...

We point out that, if quantum field renormalization is taken into account and the counterterms are evaluated at the Hubble-radius crossing time or few e-foldings after it, the predictions of slow-roll inflation for both the scalar and the tensorial power spectrum change significantly. This leads to a change in the consistency condition that relates the tensor-to-scalar amplitude ratio with spec...

Spacetime singularities have been discovered which are physically much weaker than those predicted by the classical singularity theorems. Geodesics evolve through them and they only display infinities in the derivatives of their curvature invariants. So far, these singularities have appeared to require rather exotic and unphysical matter for their occurrence. Here we show that a large class of ...

The essential reason that a 100-percent-reserve gold standard should be the ultimate goal of monetary reform is that it would secure the economic system against the evils both of inflation and of deflation–depression. In addition, it would be consistent with the fundamental moral–political principle of the absence of the initiation of physical force and thus the positive presence of individual ...

A healthy fiscal and monetary policies form the basis for economic growth sustainability of an economy. This work seeks to look at effect on in Nigeria, examine how government tax alter policy, To see interaction recurrent expenditure with policy does rate, money supply inflation if capital affects Nigeria. study uses time series data from 1995 2021 which were sourced Central Bank Nigeria Stati...