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The Measurement of Inflation and Welfare after Tax Reform

Author

Listed:
  • Diewert, W.E.
  • Fax, K.J.

Abstract

Statistical agencies are faced with a difficult measurement problem when tax reforms change consumer prices. Such reforms can affect measures of inflation and hence measures of welfare. It is suggested that instead of attempting to adjust the consumer price index (CPI) afetr tax reform, it is better to measure changes in after tax income.

Suggested Citation

  • Diewert, W.E. & Fax, K.J., 1996. "The Measurement of Inflation and Welfare after Tax Reform," Papers 96/32, New South Wales - School of Economics.
  • Handle: RePEc:fth:nesowa:96/32
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    References listed on IDEAS

    as
    1. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
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    12. Weitzman, M.L., 1992. "Diversity Functions," Harvard Institute of Economic Research Working Papers 1610, Harvard - Institute of Economic Research.
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    More about this item

    Keywords

    TAX POLICY; ECONOMIC REFORM; INFLATION;

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D60 - Microeconomics - - Welfare Economics - - - General
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General

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