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Fiscal Sustainability in a New Keynesian Model
Leith, Campbell; Wren-Lewis, Simon - Agricultural and Applied Economics Association - AAEA - 2012
Recent work on optimal monetary and fiscal policy in New Keynesian models suggests that it is optimal to allow steady-state debt to follow a random walk. Leith and Wren-Lewis (2012) consider the nature of the timeinconsistency involved in such a policy and its implication for discretionary...
Persistent link: https://www.econbiz.de/10010879000
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Fiscal Sustainability in a New Keynesian Model
Leith, Campbell; Wren-Lewis, Simon - Agricultural and Applied Economics Association - AAEA - 2012
Recent work on optimal monetary and fiscal policy in New Keynesian models suggests that it is optimal to allow steady-state debt to follow a random walk. Leith and Wren-Lewis (2012) consider the nature of the timeinconsistency involved in such a policy and its implication for discretionary...
Persistent link: https://www.econbiz.de/10010879015
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Analyzing Growth and Welfare Effects of Public Policies in Models of Endogenous Growth with Human Capital: Evidence from South Africa
Badibanga, Thaddee Mutumba - Agricultural and Applied Economics Association - AAEA - 2008
change in the tax rate in a model of endogenous growth with human capital accumulation for the South African economy. The …
Persistent link: https://www.econbiz.de/10005327989