Asimakopoulos, Stylianos; Malley, James; Angelopoulos, … - Centre for Finance, Credit and Macroeconomics (CFCM), … - 2014
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 and endogenous skill acquisition under technology and public expenditure shocks. We fiÂ…nd that skilled...