The Economic and Social Review, Vol. 07, No. 4, 1976
http://hdl.handle.net/2262/68639
2024-03-29T10:54:43ZBuilt-in flexibility of taxation and stability when tax liabilities respond with a time lag .2. Reply
http://hdl.handle.net/2262/69072
Built-in flexibility of taxation and stability when tax liabilities respond with a time lag .2. Reply
Smyth, D.J.
In my earlier paper (Smyth, 1975b) I combined a distributed lag or permanent income consumption function with a lagged tax function. Bradley (1976) disputes my finding that short, two-period, oscillations may result and that consequently the presence of built-in flexibility of taxation may be destabilising rather than stabilising. Bradley reaches his conclusion by limiting consideration to parameter values that he regards as plausible. I shall demonstrate that there is empirical evidence that conflicts with that advanced by Bradley, evidence that gives parameter values consistent with oscillations and destabilisation.
1976-01-01T00:00:00ZBuilt-in flexibility of taxation and stability when tax liabilities respond with a time lag .1. Comment
http://hdl.handle.net/2262/69071
Built-in flexibility of taxation and stability when tax liabilities respond with a time lag .1. Comment
Bradley, James F.
In the October 1975 issue of The Economic and Social Review, D. J . Smyth examined the built-in stability of a system when tax liabilities are a lagged function of income. Taking an unlagged and a distributed lag consumption function he showed that the existence of a lagged tax function could be destabilising, causing damped, regular or explosive oscillations.
1976-01-01T00:00:00ZDemand for food in Ireland 1947-1973
http://hdl.handle.net/2262/69070
Demand for food in Ireland 1947-1973
O'Riordan, W.K.
This paper attempts to extend the work of Casey on the demand for food in Ireland by investigating the validity of his method and by using more refined techniques of computation and the more extensive data now available. It is found that Casey's method introduces some (but not much) avoidable inaccuracy. The pattern of the income elasticities calculated here is similar to the earlier results but it would seem that the more modern maximum likelihood technique produces values with a wider spread. The price elasticities are also quite similar; in particular the same five goods have positive elasticities. This, however, may be induced by the form of the system used.
1976-01-01T00:00:00ZWorld prices and inflationary process in a small open-economy - case of Ireland
http://hdl.handle.net/2262/69069
World prices and inflationary process in a small open-economy - case of Ireland
Geary, Patrick T.
The standard wage-price model of inflation and a variant of Parkin's (1973) inflation model, both directly incorporating world prices, are applied to the Irish economy for the period 1953-74. This approach does not allow the inflationary transmission mechanism to be investigated in detail; it restricts attention to the proximate role of world prices as a determinant of Irish inflation. The models are estimated using annual data and the coefficient restrictions implied by the theory of small open economy inflation are tested. When world prices are measured by the UK Retail Price Index, these restrictions are satisfied although the individual coefficients raise some questions. The Personal Consumption Deflator of the OECD yields less satisfactory results. The weak relationship between unemployment and wage and price inflation, a feature of other studies of Irish inflation, is also found in this study.
1976-01-01T00:00:00Z