Interest income taxation, optimal monetary policy, and macroeconomic volatility

Detalhes bibliográficos
Autor(a) principal: Araujo, Eurilton
Data de Publicação: 2011
Tipo de documento: Artigo
Idioma: eng
por
Título da fonte: BBR. Brazilian Business Review (English edition. Online)
Texto Completo: http://www.bbronline.com.br/index.php/bbr/article/view/313
Resumo: This paper studies optimal discretionary monetary policy in an extension of the basic new Keynesian model that incorporates interest income taxation, focusing on the effect of changes in the interest income tax rate on macroeconomic volatility. Simulations show that high levels of taxation increase inflation volatility, the output gap volatility, and the unconditional expectation of the central bank's loss function.
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spelling Interest income taxation, optimal monetary policy, and macroeconomic volatilityTributação da receita de juros, política monetária otimizada e volatilidadeMonetary policyinterest income taxationdiscretionpolítica monetáriatributação da receita de jurosdiscriçãoThis paper studies optimal discretionary monetary policy in an extension of the basic new Keynesian model that incorporates interest income taxation, focusing on the effect of changes in the interest income tax rate on macroeconomic volatility. Simulations show that high levels of taxation increase inflation volatility, the output gap volatility, and the unconditional expectation of the central bank's loss function.Este ensaio estuda políticas monetárias discricionárias otimizadas como extensão do novo modelo básico Keynesiano, o qual incorpora tributação da receita de juros, focando no efeito das mudanças na alíquota da receita de juros sobre volatilidade macroeconômica. Simulações mostram que altos níveis de tributação aumentam a volatilidade da inflação, do gap de produção, e a expectativas incondicionais da função de perda do banco central.FUCAPE Business Shool2011-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionPeer-reviewed ArticleArtigo revisado pelos paresapplication/pdfapplication/pdfhttp://www.bbronline.com.br/index.php/bbr/article/view/31310.15728/bbr.2011.8.1.3Brazilian Business Review; Vol. 8 No. 1 (2011): January to March 2011; 50-59Brazilian Business Review; v. 8 n. 1 (2011): Janeiro a Março de 2011; 50-591808-23861807-734Xreponame:BBR. Brazilian Business Review (English edition. Online)instname:Fucape Business School (FBS)instacron:FBSengporhttp://www.bbronline.com.br/index.php/bbr/article/view/313/471http://www.bbronline.com.br/index.php/bbr/article/view/313/472Araujo, Euriltoninfo:eu-repo/semantics/openAccess2018-11-06T19:56:41Zoai:ojs.pkp.sfu.ca:article/313Revistahttps://www.bbronline.com.br/index.php/bbr/indexONGhttp://www.bbronline.com.br/index.php/bbr/oai|| bbronline@bbronline.com.br1808-23861808-2386opendoar:2018-11-06T19:56:41BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)false
dc.title.none.fl_str_mv Interest income taxation, optimal monetary policy, and macroeconomic volatility
Tributação da receita de juros, política monetária otimizada e volatilidade
title Interest income taxation, optimal monetary policy, and macroeconomic volatility
spellingShingle Interest income taxation, optimal monetary policy, and macroeconomic volatility
Araujo, Eurilton
Monetary policy
interest income taxation
discretion
política monetária
tributação da receita de juros
discrição
title_short Interest income taxation, optimal monetary policy, and macroeconomic volatility
title_full Interest income taxation, optimal monetary policy, and macroeconomic volatility
title_fullStr Interest income taxation, optimal monetary policy, and macroeconomic volatility
title_full_unstemmed Interest income taxation, optimal monetary policy, and macroeconomic volatility
title_sort Interest income taxation, optimal monetary policy, and macroeconomic volatility
author Araujo, Eurilton
author_facet Araujo, Eurilton
author_role author
dc.contributor.author.fl_str_mv Araujo, Eurilton
dc.subject.por.fl_str_mv Monetary policy
interest income taxation
discretion
política monetária
tributação da receita de juros
discrição
topic Monetary policy
interest income taxation
discretion
política monetária
tributação da receita de juros
discrição
description This paper studies optimal discretionary monetary policy in an extension of the basic new Keynesian model that incorporates interest income taxation, focusing on the effect of changes in the interest income tax rate on macroeconomic volatility. Simulations show that high levels of taxation increase inflation volatility, the output gap volatility, and the unconditional expectation of the central bank's loss function.
publishDate 2011
dc.date.none.fl_str_mv 2011-01-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Artigo revisado pelos pares
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/313
10.15728/bbr.2011.8.1.3
url http://www.bbronline.com.br/index.php/bbr/article/view/313
identifier_str_mv 10.15728/bbr.2011.8.1.3
dc.language.iso.fl_str_mv eng
por
language eng
por
dc.relation.none.fl_str_mv http://www.bbronline.com.br/index.php/bbr/article/view/313/471
http://www.bbronline.com.br/index.php/bbr/article/view/313/472
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv FUCAPE Business Shool
publisher.none.fl_str_mv FUCAPE Business Shool
dc.source.none.fl_str_mv Brazilian Business Review; Vol. 8 No. 1 (2011): January to March 2011; 50-59
Brazilian Business Review; v. 8 n. 1 (2011): Janeiro a Março de 2011; 50-59
1808-2386
1807-734X
reponame:BBR. Brazilian Business Review (English edition. Online)
instname:Fucape Business School (FBS)
instacron:FBS
instname_str Fucape Business School (FBS)
instacron_str FBS
institution FBS
reponame_str BBR. Brazilian Business Review (English edition. Online)
collection BBR. Brazilian Business Review (English edition. Online)
repository.name.fl_str_mv BBR. Brazilian Business Review (English edition. Online) - Fucape Business School (FBS)
repository.mail.fl_str_mv || bbronline@bbronline.com.br
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