EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/55349
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorGonzalez-Eiras, Martínen_US
dc.contributor.authorNiepelt, Dirken_US
dc.date.accessioned2012-02-14en_US
dc.date.accessioned2012-02-15T17:38:10Z-
dc.date.available2012-02-15T17:38:10Z-
dc.date.issued2012en_US
dc.identifier.urihttp://hdl.handle.net/10419/55349-
dc.description.abstractWe extend economic equivalence results, like the Ricardian equivalence proposition, to the political sphere where policy is chosen sequentially. We derive conditions under which a policy regime (summarizing admissible policy choices in every period) and a state are politico-economically equivalent to another such pair, in the sense that both pairs give rise to the same equilibrium allocation. We apply the conditions in the context of politico-economic theories of government debt as a means to i) deliver intergenerational transfers or ii) smooth tax distortions. We find that certain politico-economic models of social security or variants thereof can be re-interpreted as novel politico-economic theories of debt while other models cannot, possibly explaining the political conflict surrounding social security reform. We also find that in environments with distorting taxes, economic equivalence relations between policies with different levels of debt do not extend to the political sphere.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper: Fiscal Policy, Macroeconomics and Growth 3718en_US
dc.subject.jelE62en_US
dc.subject.jelH55en_US
dc.subject.jelH63en_US
dc.subject.ddc330en_US
dc.subject.keywordequivalenceen_US
dc.subject.keywordsocial securityen_US
dc.subject.keywordgovernment debten_US
dc.subject.keywordsocial security reformen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwÖffentliche Schuldenen_US
dc.subject.stwPublic Choiceen_US
dc.subject.stwRicardianisches Äquivalenztheoremen_US
dc.subject.stwSoziale Sicherungen_US
dc.subject.stwSozialreformen_US
dc.subject.stwTheorieen_US
dc.titleEconomic and politico-economic equivalence of fiscal policiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn685262081en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:CESifo Working Papers, CESifo Group Munich

Files in This Item:
File Description SizeFormat
685262081.pdf430.75 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.