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Federal Reserve Bank of Cleveland
Working Paper
Capital trading, stock trading, and the inflation tax on equity: a note
Scott L. Baier
Charles T. Carlstrom
Ralph Chami
Thomas F. Cosimano
Timothy S. Fuerst
Connel R. Fullenkamp
Abstract

The authors show that there is more responsiveness of consumption and output to changes in the money supply than exists in the standard neoclassical growth models.


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Scott L. Baier & Charles T. Carlstrom & Ralph Chami & Thomas F. Cosimano & Timothy S. Fuerst & Connel R. Fullenkamp, Capital trading, stock trading, and the inflation tax on equity: a note, Federal Reserve Bank of Cleveland, Working Paper 0321, 2003.
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Keywords: Capital investments
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