Optimal fiscal policy in a stochastic growth model
The model is a stochastic version of a one sector neoclassical growth model augmented with a government sector. It is formulated in discrete time with an infinite horizon. The economy has households with preferences, one good with a production technology (a function of capital, labor and a given stochastic process representing the shocks to the production technology), and a government. The economy is decentralized with three perfectly competitive markets, the labor, the capital, and the government bond market. All the results would carry through if one assume that the capital market opens after the shocks are realized but the household's saving decisions have to be made before the shocks are realized. After the description of the model competitive equilibria with labor and capital income taxes are characterized. The indeterminacy of capital income, tax rates, and levels of public debts payments is also discussed. Then the structure of optimal capital and labor income taxation is analyzed. The dynamics of the Ramsey equilibrium in a simple economy is characterized. It follows discussions for the extension of the results and directions for future researches.
- Optimal tax rules in a dynamic stochastic economy with capital
- Productive government expenditure in a stochastically growing open economy
- Optimal taxation with endogenously incomplete debt markets
- Optimal fiscal policy with redistribution
- Recursive utility, productive government expenditure and optimal fiscal policy
- scientific article; zbMATH DE number 3694871 (Why is no real title available?)
- scientific article; zbMATH DE number 3694872 (Why is no real title available?)
- Necessary optimality criteria in mathematical programming in normed linear spaces
- Optimal fiscal policy in a stochastic growth model
- Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives
- The Distance Function in Consumer Behaviour with Applications to Index Numbers and Optimal Taxation
- The geometry of optimal taxation: a primal approach
- Debt and deficit fluctuations and the structure of bond markets
- Fiscal policy rules in an overlapping generations model with endogenous labour supply
- Optimal fiscal policy, public capital, and the productivity slowdown
- Optimal fiscal policy in a stochastic growth model
- The sources of growth
- On the optimal taxation of capital income
- A portfolio approach to endogenous growth: equilibrium and optimal policy
- Optimal fiscal policy in the Uzawa-Lucas model with externalities
- Tax smoothing in a business cycle model with capital-skill complementarity
- Optimal fiscal policy with labor selection
- Fiscal policy, public debt and the term structure of interest rate
- Optimal capital income taxation in a small open economy
- Productive government expenditure in a stochastically growing open economy
- Optimal taxation with endogenously incomplete debt markets
- Recursive utility, productive government expenditure and optimal fiscal policy
- Testing for the Markov property in time series
- Direct preferences for wealth and fiscal policy in a stochastic open economy
- Optimal fiscal policy with redistribution
- Theory of Stochastic Optimal Economic Growth
- A stochastic model with human capital and education
- The model of stochastic economic growth with uncertainty return
- Macroeconomic Policies, Growth, and Welfare in a Stochastic Economy
- Policy functions of strictly concave optimal growth models
- Optimal choice of fiscal policy instruments in a stochastic IS-LM model
- Optimal Taxation with Private Government Information
- scientific article; zbMATH DE number 1861559 (Why is no real title available?)
- scientific article; zbMATH DE number 2121678 (Why is no real title available?)
- PRODUCTIVE GOVERNMENT EXPENDITURE IN A STOCHASTICALLY GROWING ECONOMY
- Distributive disturbance and optimal policy in stochastic control model
- Rising skill premium and the dynamics of optimal capital and labor taxation
- Market Power in Neoclassical Growth Models
- Do taxspots matter? A study of optimal tax uncertainty
- Optimal tax rules in a dynamic stochastic economy with capital
- Fiscal centralization vs. decentralization on economic growth and welfare: an optimal-control approach
- Fiscal policies in a general equilibrium model with persistent unemployment
- Welfare effects of controlling labor supply: An application of the stochastic Ramsey model
- Markov-perfect capital and labor taxes
- A dynamic model of shirking and unemployment: private saving, public debt, and optimal taxation
This page was built for publication: Optimal fiscal policy in a stochastic growth model
Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q1207490)
