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

DOI10.1016/j.jedc.2005.08.009zbMath1162.91500MaRDI QIDQ959629

Michael Woodford, Pierpaolo Benigno

Publication date: 12 December 2008

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

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

zbMATH Keywords

perturbation methods; log-linearization

Mathematics Subject Classification ID

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

91B62: Economic growth models

93E20: Optimal stochastic control

Related Items

The value of monetary policy commitment under imperfect fiscal credibility, Inflation differentials in a currency area: Facts, explanations and policy, Using a projection method to analyze inflation bias in a micro-founded model, Ramsey policies in a small open economy with sticky prices and capital, Linear-quadratic approximation of optimal policy problems, Distortionary taxes and public investment when government promises are not enforceable, Fiscal policy under loose commitment, Comparing accuracy of second-order approximation and dynamic programming

Cites Work

• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Unnamed Item
• Linear-quadratic approximation of optimal policy problems
• Dynamic programming and stochastic control
• Solving dynamic general equilibrium models using a second-order approximation to the policy function
• A local analysis of N-sector capital accumulation under uncertainty
• Optimal fiscal and monetary policy under sticky prices.
• Calculating and using second-order accurate solutions of discrete time dynamic equilibrium models
• Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives
• Recursive Models of Dynamic Linear Economies