Balanced-budget rules and macroeconomic (in)stability

DOI10.1016/J.JET.2004.02.002zbMATH Open1079.91058OpenAlexW2046035785MaRDI QIDQ705841FDOQ705841

Authors: Jang-Ting Guo, Sharon G. Harrison 

Publication date: 16 February 2005

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jet.2004.02.002

Recommendations

• The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures
• Balanced-budget rules: chaos and deterministic sunspots
• Sectoral composition of government spending, distortionary income taxation, and macroeconomic (in)stability
• Indeterminacy and period length under balanced budget rules
• Destabilizing balanced-budget consumption taxes in multi-sector economies

zbMATH Keywords

Business cyclesBalanced-budget rulesIndeterminacy

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Cites Work

• Indeterminacy and stabilization policy
• Monopolistic competition, business cycles, and the composition of aggregate demand
• Tax distortions in a neoclassical monetary economy

Cited In (20)

• Title not available (Why is that?)
• Aggregate instability under balanced-budget consumption taxes: a re-examination
• Progressive taxation and macroeconomic (in)stability with productive government spending
• The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures
• Fiscal rules and extrinsic uncertainty
• Balanced‐budget rules: Local indeterminacy and bifurcations
• Monetary rules and endogenous growth in an open economy
• Time‐varying consumption tax, productive government spending, and aggregate instability
• Balanced-budget consumption taxes and aggregate stability in a small open economy
• Balanced-budget rules: chaos and deterministic sunspots
• Resolving indeterminacy in coordination games: A new approach applied to a pay-as-you-go pension scheme
• Factor substitution and taxation in a finance constrained economy
• Destabilizing balanced-budget consumption taxes in multi-sector economies
• Indeterminacy and period length under balanced budget rules
• Alternative government financing and aggregate fluctuations driven by self-fulfilling expectations
• Public debt and fiscal policy traps
• Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy
• The macroeconomic implications of deficit financing under present bias
• Free labor mobility and indeterminacy in models of neoclassical growth
• Sectoral composition of government spending, distortionary income taxation, and macroeconomic (in)stability

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