Time inconsistency of benevolent government economies
نویسندگان
چکیده
منابع مشابه
Time Inconsistency of Benevolent Government Economies
A dynamic Walrasian economy is said to exhibit inconsistency if the competitive equilibrium path resulting from government reoptimization at some time rr0 is not a continuation of the competitive equilibrium path resulting from the initial government optimization at time 0. The present paper establishes necessary and sufficient conditions for consistency for a general class of dynamic Walrasian...
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ژورنال
عنوان ژورنال: Journal of Public Economics
سال: 1986
ISSN: 0047-2727
DOI: 10.1016/0047-2727(86)90070-8