Income Tax Indexation in an Open Economy
分析开放经济中累进所得税指数化如何应对冲击，探讨其与工资指数化的关系，并指出税收指数化政策效果比工资指数化更模糊，且开放度提高不一定增加最优工资指数化程度。
Indexation of progressive income taxes provides a way of cushioning against various shocks. It is both an alternative and a complement to wage indexation, but as a policy instrument it is much more ambiguous. James M. Holmes and David J. Smyth (1972) have shown that if money demand depends on disposable income, tax cuts may be contractionary. The author shows that this may change the results of Neil Bruce (1981) concerning tax indexation completely. Progressive taxation also complicates Joshua Aizenman's (1985) findings concerning wage indexation. An increase in openness, for instance, does not necessarily increase the optimal degree of wage indexation. Copyright 1995 by Ohio State University Press.