We evaluate the effect on welfare of shifting the burden of capital income taxes to labour taxes in a dynamic equilibrium model with heterogeneous agents and constant tax rates. We calibrate and simulate the economy; we find that lowering capital taxes has two effects: it increases efficiency in...

Assuming the role of debt management is to provide hedging against fiscal shocks we consider: ("i") what indicators can be used to assess the performance of debt management? ("ii") how well historical debt management policies have performed ("iii") how performance is affected by variations in...

The authors develop an equilibrium search-matching model with risk-neutral agents and two-sided ex-ante heterogeneity. Unemployment insurance has the standard effect of reducing employment but also helps workers to get a suitable job. They show, through calibrations, how the mere difference on...