Angelopoulos, Konstantinos; Asimakopoulos, Stylianos; … - In: Journal of Economic Dynamics and Control 51 (2015) C, pp. 420-444
This paper undertakes a normative investigation of the quantitative properties of optimal tax smoothing in a business cycle model with state contingent debt, capital-skill complementarity and endogenous skill acquisition under technology and public expenditure shocks. We find that skilled and...