Twenty-five Per Cent Forty Years On

James Perkins and Tran Hoa

Chapter 7 in National Income and Economic Progress, 1988, pp 123-138 from Palgrave Macmillan

Abstract: Abstract Some forty years ago Colin Clark suggested in a famous article that, during the 1930s, when the ratio of taxes to national income exceeded 25 per cent (or when government outlays exceeded 25 per cent if there was a budget deficit) a country tended to suffer from inflation (Clark, 1946).

Keywords: Price Level; OECD Country; Fiscal Policy; Consumer Price Index; National Income (search for similar items in EconPapers)
Date: 1988
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DOI: 10.1007/978-1-349-19340-0_8

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