We construct a computational dynamic stochastic and explore the impact of policy stickiness on optimal long-run fiscal policy.

This paper analyzes the effects of recent Venezuelan immigration to Colombia on the fiscal balance, the labor market, and economic growth. For this purpose, we built a dynamic general equilibrium model with a search and matching structure in the labor market. The higher fiscal spending to...

Paper examines the problem of choice of an optimal fiscal rule in the long run. An ideal rule would typically assure fair distribution of utility over generations, while allowing to maintain the sustainable fiscal position. Three commonly used types: debt, deficit and expenditure rules are...

This volume is an invaluable guide for policymakers facing important decisions about environmental taxation, marginal tax rates, dividend taxation, and the taxation of business investment.

Recent failures of monetary and fiscal policy reflect deficiencies in prevailing theories of demand management. Taking available data into account, this book discusses the merits and shortcomings of Keynesian and monetarist approaches and develops the lines along which our theories need to be...

Recent failures of monetary and fiscal policy reflect deficiencies in prevailing theories of demand management. Taking available data into account, this book discusses the merits and shortcomings of Keynesian and monetarist approaches and develops the lines along which our theories need to be...

This volume is an invaluable guide for policymakers facing important decisions about environmental taxation, marginal tax rates, dividend taxation, and the taxation of business investment.

The study of the incidence of the U.S. tax system has a long and impressive history that has proceeded along many different complementary paths.

We construct a computational dynamic stochasticand explore the impact of policy stickiness on optimal long-run fiscal policy.