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Chari, V. V.; Kehoe, Patrick J. - Federal Reserve Bank of Minneapolis - 1998

rates on labor and consumption should be roughly constant; state-contingent taxes on assets should be used to provide …

Persistent link: https://www.econbiz.de/10005367605

The time consistency of monetary and fiscal policies

Alvarez, Fernando; Kehoe, Patrick J.; Neumeyer, Pablo - Federal Reserve Bank of Minneapolis - 2003

We show that optimal monetary and fiscal policies are time consistent for a class of economies often used in applied work, economies appealing because they are consistent with the growth facts. We establish our results in two steps. We first show that for this class of economies, the Friedman...

Persistent link: https://www.econbiz.de/10005367747

Tax distortions in a neoclassical monetary economy

Cooley, Thomas F.; Hansen, Gary D. - Federal Reserve Bank of Minneapolis - 1991

, consumption, and holdings of money. In particular, we evaluate the welfare gains from tax reforms that are designed to replace … given sequence of government expenditures are slightly lower in economies that substitute inflation or consumption taxes for … income. Replacing the capital tax with a consumption tax, for example, eliminates 81 percent of the welfare cost arising from …

Persistent link: https://www.econbiz.de/10005372825

Optimal fiscal and monetary policy: some recent results

Chari, V. V.; Christiano, Lawrence J.; Kehoe, Patrick J. - Federal Reserve Bank of Minneapolis - 1991

This paper studies the quantitative properties of fiscal and monetary policy in business cycle models. In terms of fiscal policy, optimal labor tax rates are virtually constant and optimal capital income tax rates are close to zero on average. In terms of monetary policy, the Friedman rule is...

Persistent link: https://www.econbiz.de/10005498465

Optimal fiscal and monetary policy: equivalence results

Correia, Isabel; Nicolini, Juan Pablo; Teles, Pedro - Federal Reserve Bank of Minneapolis - 2008

In this article, 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...

Persistent link: https://www.econbiz.de/10005498473

The time consistency of monetary and fiscal policies

Alvarez, Fernando; Kehoe, Patrick J.; Neumeyer, Pablo - Federal Reserve Bank of Minneapolis - 2002

Are optimal monetary and fiscal policies time consistent in a monetary economy? Yes, but if and only if under commitment the Friedman rule of setting nominal interest rates to zero is optimal. This result is of applied interest because the Friedman rule is optimal for the standard preferences...

Persistent link: https://www.econbiz.de/10005427782

Growth in federal states - a bird's eye view

Lödl, Felix; Gruber, Matthias - Österreich / Bundesministerium für Finanzen - 2020

Persistent link: https://www.econbiz.de/10014233453

Österreichisches Stabilitätsprogramm

Österreich / Bundesministerium für Finanzen - 2005

Persistent link: https://www.econbiz.de/10009637047

Österreichisches Stabilitätsprogramm

Österreich / Bundesministerium für Finanzen - 2004

Persistent link: https://www.econbiz.de/10009637673

Österreichisches Stabilitätsprogramm

Österreich / Bundesministerium für Finanzen - 2003

Persistent link: https://www.econbiz.de/10009637674