Recent developments in public finance in the analysis of dynamic government debt policies have emphasized effects on the distribution of real resources across generations. At the same time, macroeconomists have emphasized the importance of the length of the time horizon over which agents optimize their decisions about consumption for judging the effects of fiscal policy on aggregate demand. Much of the discussion of these issues has focused on whether linkages among generations are sufficient to give consumers infinite horizons. To the extent that horizons are finite, debt burdens can be shifted to future generations, and substitutions of debt for taxes have real effects. This paper argues that, as a matter of quantitative significance, the...
I reconsider the short-term effects of fiscal policy when both government spending and taxes are all...
This article assesses three basic approaches to assessing the future effects of the government’s fis...
We construct a staggered-price dynamic general equilibrium model with overlapping generations based ...
Many issues in macroeconomics, such as the level of the steady state interest rate, or the dynamic e...
Recent empirical studies suggest that the average marginal propensity to consume (MPC) has declined....
This paper presents a dynamic stochastic general equilibrium model with nominal rigidities, capital ...
This paper examines the role of fiscal policy in the long run. We show that (i) dynamic inefficiency...
The paper studies the short-run, transitional, and long-run output effects of permanent and temporar...
One issue often overlooked in dynamic fiscal policy analysis is the importance of assumptions made r...
In this paper, we examine Ricardian equivalence of debt and tax finance in a world in which taxes ar...
The paper considers the response of a small, open dependent economy to a variety of fiscal and finan...
The debate on public finances’ sustainability has long focused on the conditions for the accumulatio...
The paper studies the short-run, transitional, and long-run output effects of permanent and temporar...
Research that seeks to estimate the effects of fiscal policies on economic growth has ignored therol...
The debate on public finances’ sustainability has long focused on the conditions for the accumulatio...
I reconsider the short-term effects of fiscal policy when both government spending and taxes are all...
This article assesses three basic approaches to assessing the future effects of the government’s fis...
We construct a staggered-price dynamic general equilibrium model with overlapping generations based ...
Many issues in macroeconomics, such as the level of the steady state interest rate, or the dynamic e...
Recent empirical studies suggest that the average marginal propensity to consume (MPC) has declined....
This paper presents a dynamic stochastic general equilibrium model with nominal rigidities, capital ...
This paper examines the role of fiscal policy in the long run. We show that (i) dynamic inefficiency...
The paper studies the short-run, transitional, and long-run output effects of permanent and temporar...
One issue often overlooked in dynamic fiscal policy analysis is the importance of assumptions made r...
In this paper, we examine Ricardian equivalence of debt and tax finance in a world in which taxes ar...
The paper considers the response of a small, open dependent economy to a variety of fiscal and finan...
The debate on public finances’ sustainability has long focused on the conditions for the accumulatio...
The paper studies the short-run, transitional, and long-run output effects of permanent and temporar...
Research that seeks to estimate the effects of fiscal policies on economic growth has ignored therol...
The debate on public finances’ sustainability has long focused on the conditions for the accumulatio...
I reconsider the short-term effects of fiscal policy when both government spending and taxes are all...
This article assesses three basic approaches to assessing the future effects of the government’s fis...
We construct a staggered-price dynamic general equilibrium model with overlapping generations based ...