Macroeconomic effects of fiscal policy
نویسندگان
چکیده
منابع مشابه
Fiscal Policy, Macroeconomic Stability and Finite Horizons
In this paper we analyse the stabilisation properties of distortionary taxes in a New Keynesian model with overlapping generations of finitely-lived consumers. In this framework, government debt is part of net wealth and this adds a number of interesting channels through which fiscal policy could affect output and inflation. Output volatility, in presence of technology shocks, is not substantia...
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This article derives optimal fiscal rules within a stochastic model of Keynesian type in the context of Poole (1970) analysis. By using optimal control theory and applying the Hamilton-Jacoby-Bellman equation, we extend the original Poole results concerning the output stabilization properties of monetary policy to the case of fiscal policy. In particular, we look for the optimal setting of gove...
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ژورنال
عنوان ژورنال: Carnegie-Rochester Conference Series on Public Policy
سال: 1985
ISSN: 0167-2231
DOI: 10.1016/0167-2231(85)90007-7