Optimal taxation in an RBC model: A linear-quadratic approach

DOI10.1016/J.JEDC.2005.08.009MaRDI QIDQ959629zbMATHOpenAlexFDO

Authors Pierpaolo Benigno, Michael Woodford

Publication date 12 December 2008

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL http://www.nber.org/papers/w11029.pdf

zbMATH Keywords

perturbation methodslog-linearization

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62) Optimal stochastic control (93E20)

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Cited in

(12)

• Comparing accuracy of second-order approximation and dynamic programming
• The value of monetary policy commitment under imperfect fiscal credibility
• Managing macroeconomic fluctuations with flexible exchange rate targeting
• Fiscal policy under loose commitment
• Linear-quadratic approximation, external habit and targeting rules
• Using a projection method to analyze inflation bias in a micro-founded model
• Distortionary taxes and public investment when government promises are not enforceable
• Oligopolistic competition and optimal monetary policy
• Ramsey policies in a small open economy with sticky prices and capital
• Inflation differentials in a currency area: Facts, explanations and policy
• Linear-quadratic approximation of optimal policy problems
• Optimal taxation of a perfectly competitive firm with Cobb-Douglas production function as a bilevel programming problem

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