Fiscal policy, debt constraint and expectations-driven volatility

DOI10.1016/J.JMATECO.2015.09.003MaRDI QIDQ898700zbMATHOpenAlexFDO

Authors Kazuo Nishimura, Thomas Seegmuller, Alain Venditti

Publication date 18 December 2015

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2015.09.003

zbMATH Keywords

indeterminacypublic debtendogenous cyclesincome taxation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

Recommendations

• Public debt and fiscal policy traps
• The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures
• On the (de)stabilizing effect of public debt in a Ramsey model with heterogeneous agents
• The determination of public debt under both aggregate and idiosyncratic uncertainty
• Growth and instability in a small open economy with debt

Cites work

• Aggregate instability under balanced-budget consumption taxes: a re-examination
• Capital-labor substitution and competitive nonlinear endogenous business cycles
• DEBT POLICY RULE, PRODUCTIVE GOVERNMENT SPENDING, AND MULTIPLE GROWTH PATHS
• Debt policy rule, productive government spending, and multiple growth paths: a note
• Indeterminacy and stabilization policy
• Market distortions and local indeterminacy: a general approach
• Micro and macro elasticities in a life cycle model with taxes
• On the (de)stabilizing effect of public debt in a Ramsey model with heterogeneous agents
• Persistent deficit, growth, and indeterminacy

Cited in

(12)

• Fiscal policy rules and the sustainability of public debt in Europe
• Advances in growth and macroeconomic dynamics: \textit{in memory of Carine Nourry}
• A model of fiscal dominance under the ``Reinhart conjecture
• The perils of fiscal feedback rules
• Introduction to financial frictions and debt constraints
• Fiscal policy in debt constrained economies
• Growth and instability in a small open economy with debt
• Can fiscal decentralization alleviate government consumption volatility?
• On the (de)stabilization role of protectionism
• Fiscal Policy in an Expectations-Driven Liquidity Trap
• Fifty years of mathematical growth theory: classical topics and new trends
• Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy

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