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Browsing by Author "Cosimano, Thomas F."

DukeSpace

Browsing by Author "Cosimano, Thomas F."

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  • Capital Trading, Stock Trading, and the Inflation Tax on Equity
    Chami, Ralph; Cosimano, Thomas F.; Fullenkamp, Connel (SSRN eLibrary, 2000)
    A market for used capital goods, or financial instruments that represent the ownership of the used capital goods, induces inflation taxes on wealth and on the nominal income flows they provide. This paper explicitly ...
  • Capital Trading, Stock Trading, and the Inflation Tax on Equity: A Note
    Baier, Scott L.; Carlstrom, Charles T.; Chami, Ralph; Cosimano, Thomas F.; Fuerst, Timothy S.; Fullenkamp, Connel (SSRN eLibrary, 2003)
    l Trading, Stock Trading, and the Inflation Tax on Equity," Chami, Cosimano, and Fullenkamp (2001) (hereafter, CCF) analyze a cash-in-advance model in which capital goods are explicitly traded. The authors show that there ...
  • Ownership of Capital in Monetary Economies and the Inflation Tax on Equity
    Chami, Ralph; Cosimano, Thomas F.; Fullenkamp, Connel (SSRN eLibrary, 1998)
    Asset pricing models have only partially captured the true inflation risk of equities. The contribution of this paper is to identify and quantify the extra inflation tax on equities that results when ownership of physical ...
  • The Stock Market Channel of Monetary Policy
    Chami, Ralph; Cosimano, Thomas F.; Fullenkamp, Connel (SSRN eLibrary, 1999)
    argues that the stock market is an important channel of monetary policy. Monetary policy affects real economic activity because inflation levies a property tax on stocks in addition to an income tax on dividend payments. ...