Optimal Fiscal Policy with Redistribution

Optimal Fiscal Policy With Oil Revenues

optimal fiscal policy with oil revenues

Optimal Fiscal and Monetary Policy

We study optimal fiscal and monetary policy in an environment where explicit frictions give rise to valued money, making money essential in the sense that it expands the set of feasible trades. Our main results are in stark contrast to the prescriptions of earlier flexible-price Ramsey models. The two most important findings that emerge from our work are that the Friedman Rule is typically not ...

Optimal Fiscal Policy in Dynamic Models

Optimal Fiscal and Monetary Policy: Equivalence Results

In this paper, we analyze the implications of price setting restrictions for the conduct of cyclical fiscal and monetary policy. We consider standard monetary economies that differ in the price setting restrictions imposed on the firms. We show that independently of the degree or type of price stickiness it is possible to implement the same efficient set of allocations, and that each allocation...