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explaining the interaction between private agents and fiscal authorities in the U.S., West Germany, Japan and the U.K. over the … is necessary to formally test the models' theoretical restrictions. In West Germany and Japan there is evidence that the …
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explaining the interaction between private agents and fiscal authorities in the U.S., West Germany, Japan and the U.K. over the … is necessary to formally test the models ̕theoretical restrictions. In West Germany and Japan there is evidence that the …
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This paper undertakes a normative investigation of the quantitative properties of optimal tax smoothing in a business cycle model with state contingent debt, capital-skill complementarity, endogenous skill formation and stochastic shocks to public consumption as well as total factor and capital...
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