Taxation versus spending as the fiscal instrument for demand management: a disequilibrium welfare approach
In: Discussion paper series 84
33 Ergebnisse
Sortierung:
In: Discussion paper series 84
In: Bulletin of economic research, Band 66, Heft 3, S. 217-230
ISSN: 1467-8586
ABSTRACTThe overlapping‐generations model of Blanchard, based on a constant probability of death, is used to study the maximum level of government debt consistent with the existence of a steady state equilibrium. In both a small open and a closed economy it is shown that maximum sustainable debt robustly occurs where the consumption of individual households reaches zero, the limit of its feasible range. Taxation absorbs all of the household's labour income here. In a closed economy, at this point the real interest rate also hits a 'ceiling' given by a simple combination of preference parameters and the death probability.
In: Journal of economics, Band 94, Heft 2, S. 191-194
ISSN: 1617-7134
In: Portuguese economic journal, Band 6, Heft 3, S. 133-150
ISSN: 1617-9838
In: Journal of economic dynamics & control, Band 22, Heft 5, S. 679-702
ISSN: 0165-1889
In: European Journal of Political Economy, Band 11, Heft 3, S. 557-575
In: European journal of political economy, Band 11, Heft 3, S. 557
ISSN: 0176-2680
In: The Economic Journal, Band 102, Heft 413, S. 743
In: The Economic Journal, Band 97, Heft 385, S. 65
In: Journal of international economics, Band 21, Heft 1-2, S. 193-196
ISSN: 0022-1996
In: Working paper 346
In: Journal of international trade & economic development: an international and comparative review, Band 25, Heft 2, S. 266-289
ISSN: 1469-9559
In: Journal of economic dynamics & control, Band 37, Heft 8, S. 1544-1566
ISSN: 0165-1889
In: Urban forum, Band 23, Heft 3, S. 299-318
ISSN: 1874-6330