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Economic Growth with Constraints on Tax Revenues and Public Debt : Implications for Fiscal Policy and Cross-Country Differences
Aizenman, Joshua - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10012777949
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The Effects of Fiscal Policies When Incomes are Uncertain : a Contradiction to Ricardian Equivalence
Feldstein, Martin S. - 2010
introduction of an unfunded social security program will raise consumption even if all bequests reflect intergenerational altruism … earnings are uncertain, his future bequest is also uncertain and his consumption therefore rises more in response to an …
Persistent link: https://www.econbiz.de/10012760315
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Fiscal Policy with Impure Intergenerational Altruism
Abel, Andrew B.; Bernheim, B. Douglas - 2021
Recent work demonstrates that dynastic assumptions guarantee the irrelevance of all redistributional polices, distortionary taxes, and prices--the neutrality of fiscal policy (Ricardian equivalence) is only the "tip of the iceberg." In this paper, we investigate the possibility of reinstating...
Persistent link: https://www.econbiz.de/10013215365
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Generational Policy
Kotlikoff, Laurence J. - 2021
Generational policy is a fundamental aspect of a nation's fiscal affairs. The policy involves redistributing resources across generations and allocating to particular generations the burden of paying the government's bills. This chapter of the second edition of The Handbook of Public Economics...
Persistent link: https://www.econbiz.de/10013231998
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Do Fiscal Multipliers Depend on Fiscal Positions?
Huidrom, Raju - 2016
Ricardian channel through which households reduce consumption in anticipation of future fiscal adjustments …
Persistent link: https://www.econbiz.de/10012245833
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Why do fiscal multipliers depend on fiscal positions?
Huidrom, Raju; Kose, M. Ayhan; Lim, Jamus Jerome; … - 2019
reduce consumption in anticipation of future fiscal adjustments when fiscal stimulus is implemented from a weak fiscal …
Persistent link: https://www.econbiz.de/10012008266
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Is it is or is it Ain't My Obligation? Regional Debt in Monetary Unions
Cooper, Russell; Kempf, Hubert; Peled, Dan - 2021
This paper studies the implications of the circulation of interest bearing regional debt in a monetary union. Does the circulation of this debt have the same monetary implications as the printing of money by a central government? Or are the obligations of this debt simply backed by future...
Persistent link: https://www.econbiz.de/10013310257
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Activist Fiscal Policy to Stabilize Economic Activity
Auerbach, Alan J. - 2010
evidence is not as "shovel ready" as one would like. Although consumption and investment clearly respond to tax incentives and …
Persistent link: https://www.econbiz.de/10013150639
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The Impact on Consumption and Saving of Current and Future Fiscal Policies
Carman, Katherine Grace; Gokhale, Jagadeesh; Kotlikoff, … - 2021
alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing …
Persistent link: https://www.econbiz.de/10013218544
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The Households Effects of Government Consumption
Giavazzi, Francesco - 2012
working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption …
Persistent link: https://www.econbiz.de/10013110925