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A Simple Model of Money and Taxes and an Illustration with Brazilian Data

Author

Listed:
  • Giovannini, Alberto
  • Turtelboom, Bart

Abstract

We explore the properties of velocity in a model where agents are required by law to use money to pay taxes, but not for any other private purchases. The model is applied to Brazil between 1975 and 1990. We show that the model mimics consumption velocity very closely during the high-inflation years.

Suggested Citation

  • Giovannini, Alberto & Turtelboom, Bart, 1992. "A Simple Model of Money and Taxes and an Illustration with Brazilian Data," CEPR Discussion Papers 726, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:726
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    More about this item

    Keywords

    Cash-in-advance Constraint; Inflation; Money Demand; Taxes;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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