An alternative automatic indexing model and an empirical investigation into the relationship between nominal interest rates and expected inflation.

Bibliographic Details
Main Author: Curatola, Anthony Paul
Other Authors: Bravenec, Lorence L. (degree committee member.), Fraser, Donald R. (degree committee member.), Kratchman, Stanely M. (degree committee member.), Sielken, Robert L. (degree committee member.)
Format: Thesis Book
Language:English
Published: 1981.
Subjects:
Online Access:Link to ProQuest Copy
Link to OAKTrust copy

MARC

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099 |a 1981  |a Dissertation  |a C975 
100 1 |a Curatola, Anthony Paul. 
245 1 3 |a An alternative automatic indexing model and an empirical investigation into the relationship between nominal interest rates and expected inflation. 
264 1 |c 1981. 
300 |a x, 169 leaves ;  |c 29 cm 
336 |a text  |b txt  |2 rdacontent 
337 |a unmediated  |b n  |2 rdamedia 
338 |a volume  |b nc  |2 rdacarrier 
500 |a "Major subject: Accounting." 
500 |a Typescript (photocopy). 
500 |a Vita. 
502 |b Ph. D. in Philosophy  |c Texas A & M University  |d 1981 
504 |a Includes bibliographical references (leaves 156-162). 
520 3 |a The purpose of this research study is to theoretically examine the joint issue of horizontal and vertical tax equity and automatic indexation when classes of assets do not equally respond to inflation. As part of this analysis, two indexing strategies were introduced: full indexing and unequal indexing. Full indexing adjusts income by an amount equal to the inflation of the period; whereas, unequal indexing adjusts income by an amount equal to the unanticipated inflation reflected in a class of assets. An overall conclusion of the theoretical analysis is that unequal indexing is "fairer" than full indexing. Yet the adoption of unequal indexing would require a measure of expected inflation in order to categorize classes of assets into homogeneous stratum. Expected inflation, however, is not directly observable. One measure of expected inflation that has been suggested is the Interest Rate Index. To test this assertion, this study has empirically examined the question that yields of auctioned 91-day U.S. Treasury Bills fully reflect expected inflation as measured by a two-step ahead forecast of the Gross National Product-Implicit Price Deflator. The conclusion reached was that the yields reflected less than expected inflation for the period of 1959I through 1980III at a 5% level of significance. Hence, if the Interest Rate Index were constructed from these yields, then it too would reflect less than expected inflation as measured by the Implicit Price Deflator. 
650 0 |a Income tax  |x Effect of inflation on  |z United States. 
650 0 |a Indexation (Economics)  |x Mathematical models. 
650 0 |a Inflation (Finance)  |z United States.  |0 http://id.loc.gov/authorities/subjects/sh85066119 
650 0 |a Interest  |x Effect of inflation on  |z United States. 
650 0 |a Taxation  |x Effect of inflation on  |z United States. 
650 4 |a Accounting. 
655 7 |a Academic theses.  |2 lcgft  |0 http://id.loc.gov/authorities/genreForms/gf2014026039 
700 1 |a Benjamin, James J.,  |e degree supervisor.  |0 http://id.loc.gov/authorities/names/n79054687 
700 1 |a Bravenec, Lorence L.,  |e degree committee member.  |0 http://id.loc.gov/authorities/names/n78054984 
700 1 |a Fraser, Donald R.,  |e degree committee member.  |0 http://id.loc.gov/authorities/names/n80055230 
700 1 |a Kratchman, Stanely M.,  |e degree committee member. 
700 1 |a Sielken, Robert L.,  |e degree committee member.  |0 http://id.loc.gov/authorities/names/n92806191 
710 2 |a Texas A & M University,  |e degree granting institution.  |0 http://id.loc.gov/authorities/names/n80125885 
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