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Time-consistent fiscal policy and government cash-flow

✍ Scribed by Torsten Persson; Lars E.O. Svensson


Book ID
113311747
Publisher
Elsevier Science
Year
1984
Tongue
English
Weight
497 KB
Volume
14
Category
Article
ISSN
0304-3932

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Time-consistent optimal fiscal policy
✍ Paul Klein; JosΓ©-VΓ­ctor RΓ­os-Rull πŸ“‚ Article πŸ“… 2003 πŸ› John Wiley and Sons 🌐 English βš– 765 KB
Time consistent fiscal policies in a Ram
✍ Roberto Cellini; Luca Lambertini πŸ“‚ Article πŸ“… 2007 πŸ› Elsevier Science 🌐 English βš– 212 KB

This paper revisits a well-known case of optimal fiscal policy in a Ramsey model where consumer utility is defined over consumption and public goods. We show that "normalising" the size of the population to one eliminates the scope for active policy-making since the decentralised equilibrium coincid