Public debt in an OLG model with imperfect competition

Fiscal policy is needed to avoid dynamic inefficiency and maintain full employment in a modified Diamond OLG model with imperfect competition. A distributionally neutral tax scheme can maintain full employment in the face of variations in .household confidence.. No variations in taxes will be needed if households correctly anticipate future taxes: the tax policy functions as an insurance scheme. JEL Categories: E62, E22

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Year of publication:	2011-10
Authors:	Skott, Peter ; Ryoo, Soon
Institutions:	Department of Economics, University of Massachusetts-Amherst
Subject:	Public debt \| Keynesian OLG model \| dynamic effeciency \| confidence

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Extent:	application/pdf
Series:	UMASS Amherst Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009350571