Brown, Drusilla K. (contributor); Kiyota, Kōzō (contributor) - 2004 - [Elektronische Ressource]
version of the typical two-country real-
business-cycle model to which we introduce fiscal policy following the setup … approximate residence-
based taxation.
8
The Public Sector
Fiscal policy in each country has three components: first, a … purchases, entitlement
payments, and tax rates are the instruments of fiscal policy. Thus, a primary fiscal deficit or …