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An inflation tax

Author

Listed:
  • R. Jackman
  • R. Layard

Abstract

The basic dilemma for any government is how to get more employment without also generating more inflation. Broadly, there are only three alternative approaches. The simplest is to rule out any form of incomes policy (outside the public sector). This is equivalent to accepting high levels of unemployment into the indefinite future. For without an incomes policy it will take at least 2 million unemployed to stop inflation increasing.

Suggested Citation

  • R. Jackman & R. Layard, 1982. "An inflation tax," Fiscal Studies, Institute for Fiscal Studies, vol. 3(2), pages 47-59, July.
    • Handle: RePEc:ifs:fistud:v:3:y:1982:i:2:p:47-59
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    Cited by:

    1. Oswald, Andrew J, 1982. "Optimal Intervention in an Economy with Trade Unions," The Warwick Economics Research Paper Series (TWERPS) 221, University of Warwick, Department of Economics.
    2. Juin‐Jen Chang & Chung‐Cheng Lin & Ching‐Chong Lai, 1999. "The Unemployment and Wage Effects of Shifting to an Indirect Tax in an Efficiency Wage Model," The Economic Record, The Economic Society of Australia, vol. 75(2), pages 156-166, June.
    3. Oswald, Andrew J, 1984. "Three Theorems on Inflation Taxes and Marginal Employment Subsidies," Economic Journal, Royal Economic Society, vol. 94(375), pages 599-611, September.

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