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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
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/10012470563
In this paper, we study maximizing long-run economic growth trade-off in monetary and fiscal policies in an endogenous growth model with transaction costs. We show that both monetary and fiscal policies are subject to threshold effects, a result that gives account of a number of recent empirical...
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We show that the effectiveness of redistribution policy in stimulating the economy and improving welfare is directly … regime counteract the deflationary forces during the recession. Moreover, redistribution produces a Pareto improvement under …
Persistent link: https://www.econbiz.de/10012388237
We show that the effectiveness of redistribution policy is tied to how much inflation it generates, and thereby to … effects of the CARES Act in a COVID recession. We find that transfer multipliers are larger, and that moreover, redistribution …
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