Monetary Policy, Taxation, and International Investment Strategy

Overview

Written especially for portfolio managers, financial analysts, and corporate economists, this volume considers the practical implications of government economic policies. The contributors illustrate how incentives and disincentives affect economic behavior and the performance of the economy through an in-depth discussion of monetary, fiscal, and international economic issues. In addition, the authors present a unique top-down approach that enables the reader to trace the impact of government policies through the ...

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Overview

Written especially for portfolio managers, financial analysts, and corporate economists, this volume considers the practical implications of government economic policies. The contributors illustrate how incentives and disincentives affect economic behavior and the performance of the economy through an in-depth discussion of monetary, fiscal, and international economic issues. In addition, the authors present a unique top-down approach that enables the reader to trace the impact of government policies through the economy and thereby discover the investment strategies most likely to be successful within a given policy context.

The first section of the book focuses on monetary issues and explores issues related to inflation, likely government intervention mechanisms to control inflation, variants of the monetarist model, interpreting the demand curve, and the development of a portfolio strategy designed to take advantage of anticipated changes in financial variables. The next group of chapters looks at supply-side economics and analyzes the effects of the economic incentives and constraints imposed by government. Particular attention is paid to the effects of taxation policies on equity values, economic growth, and savings. In the third section, the contributors present a supply-side view of selected international economic issues including the relationship between tax rate reductions and foreign exchange rates and the trade balance. The concluding section examines the portfolio strategies that can be derived from the analyses presented in previous chapters. An indispensable resource for finance executives, this book will also be of significant value to graduate students in economics, financial management, and business programs.

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Product Details

  • ISBN-13: 9780899305349
  • Publisher: Greenwood Publishing Group, Incorporated
  • Publication date: 10/17/1990
  • Pages: 376
  • Lexile: 1360L (what's this?)
  • Product dimensions: 6.20 (w) x 9.74 (h) x 1.33 (d)

Meet the Author

VICTOR A. CANTO is President of A. B. Laffer, V. A. Canto & Associates, an economic research and financial consulting firm.

ARTHUR B. LAFFER is Chairman of A. B. Laffer, V. A. Canto & Associates and was a member of President Reagan's Economic Policy Advisory Board.

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Table of Contents

Introduction by Victor A. Canto and Arthur B. Laffer

Monetary Policy

Capacity Utilization and Inflation by Victor A. Canto

World Money and U.S. Inflation by Victor A. Canto and Alex Winters

Alternative Monetary Theories of Inflation by Victor A. Canto and Arthur B. Laffer

Money, Interest Rates, and Inflation: A Classical View by Victor A. Canto and Arthur B. Laffer

The Quality of Inflation Indicators by Victor A. Canto and Arthur B. Laffer

The Yield Curve: The Long and Short of It by Victor A. Canto and Arthur B. Laffer

Fiscal Policy

Bush's Economic Agenda within a Supply-Side Framework by Victor A. Canto and Arthur B. Laffer

Tax Amnesty: The Missing Link by Martin G. Laffer and Arthur B. Laffer

Fifteen Percent Is Fine, but Indexing Is Divine by Victor A. Canto and Harvey B. Hirschhorn

Stylized Facts and Fallacies of Capital Gains Tax Rate Reductions and Indexation by Victor A. Canto and Arthur B. Laffer

Friday the 13th: Triple Witching Hour for the Government by Victor A. Canto and Arthur B. Laffer

Debt and Taxes Are the Only Certainty by Arthur Gray, Jr., and Arthur B. Laffer

Borrowed Prosperity: The Astrology of Consumer Debt by John E. Silvia

The Savings Monster by Victor A. Canto and Arthur B. Laffer

Are We Climbing the Wall of Resistance toward National Health Insurance? by James Balog

International Economic Issues

Tax Rate Reductions and Foreign Exchange Rates by Victor A. Canto

The Trade Balance: Don't Worry, Be Happy by Arthur B. Laffer

National Paedomorphosis: U.K. Progenesis, U.S. Neoteny by Arthur B. Laffer

Portfolio Strategies

The Legend by Victor A. Canto and Arthur B. Laffer

MacroeconomicShocks and Stock Prices by Victor A. Canto and Arthur B. Laffer

The Small-Cap and State Competitive Environment: 1989-90 Update by Victor A. Canto and Arthur B. Laffer

International Stock Returns and Real Exchange Rates by Victor A. Canto

Index

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