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Budgetdefizite steht im Mittelpunkt der Steuerglättungs-Theorie. Der Autor untersucht sowohl verzerrende Steuern auf das …
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This paper examines a dynamic stochastic economy with a benevolent government that cannot commit to its future policies. I consider equilibria that are time-consistent and allow for history-dependent strategies. A new numerical algorithm is developed to solve for the set of equilibrium payoffs....
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