An Inflation-Proof Tax System?: Some Lessons from Israel

Efraim Sadka
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Efraim Sadka: International Monetary Fund

IMF Staff Papers, 1991, vol. 38, issue 1, 135-155

Abstract: When the effect of high inflation on the tax system is taken into account, the overall revenues from inflationary finance may well be negative. The strength of this contention is weighed against measures taken in Israel in an attempt to construct an inflation-proof tax system. The paper concludes that, despite these measures, the Israeli experience suggests that it is more appropriate to talk about the "inflation subsidy," rather than the "inflation tax."

Date: 1991
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