Sequential equilibria in a Ramsey tax model

This paper presents a full characterization of the equilibrium value set of a Ramsey tax model. More generally, it develops a dynamic programming method for a class of policy games between the government and a continuum of consumers. By selectively incorporating Euler conditions into a strategic dynamic programming framework, we wed two technologies that are usually considered competing alternatives, resulting in a dramatic simplification of the problem.

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Year of publication:	1999
Authors:	Phelan, Christopher ; Stacchetti, Ennio
Institutions:	Federal Reserve Bank of Minneapolis
Subject:	Macroeconomics \| Taxation

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Extent:	application/pdf
Series:	Staff Report.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 258
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005367735