Manzano, Baltasar; Ruiz, Jesús - Facultad de Ciencias Económicas y Empresariales, … - 2002
This paper presents the state of art in optimal fiscal policy, focusing on the more promising research lines in this … topic. In particular, we show the main results on how the government must implement optimal fiscal policy in different … inconsistency and the indeterminacy of the state-contingent optimal fiscal policy. …