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The Global Effects of U.S. Fiscal Policy
Flood, Kimberly - Bank of Canada - 2008
The author examines the global impact of U.S. fiscal policy using the Bank of Canada's Global Economy Model (Lalonde … that the expiration of previously enacted tax cuts in the United States will impose short-run costs on the U.S. economy …
Persistent link: https://www.econbiz.de/10005808268
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Time-Consistent Control in Non-Linear Models
Ambler, Steve; Pelgrin, Florian - Bank of Canada - 2007
We show how to use optimal control theory to derive optimal time-consistent Markov-perfect government policies in nonlinear dynamic general equilibrium models, extending the result of Cohen and Michel (1988) for models with quadratic objective functions and linear dynamics. We replace private...
Persistent link: https://www.econbiz.de/10005673314