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dc.contributor.authorGonzalez-Eiras, Martínen
dc.contributor.authorNiepelt, Dirken
dc.date.accessioned2012-02-14-
dc.date.accessioned2012-02-15T17:38:10Z-
dc.date.available2012-02-15T17:38:10Z-
dc.date.issued2012-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3718en
dc.subject.jelE62en
dc.subject.jelH55en
dc.subject.jelH63en
dc.subject.ddc330en
dc.subject.keywordequivalenceen
dc.subject.keywordsocial securityen
dc.subject.keywordgovernment debten
dc.subject.keywordsocial security reformen
dc.subject.stwFinanzpolitiken
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwPublic Choiceen
dc.subject.stwRicardianisches Äquivalenztheoremen
dc.subject.stwSoziale Sicherungen
dc.subject.stwSozialreformen
dc.subject.stwTheorieen
dc.titleEconomic and politico-economic equivalence of fiscal policies-
dc.typeWorking Paperen
dc.identifier.ppn685262081en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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