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http://hdl.handle.net/10419/64166
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| Title: | | Public debt in an OLG model with imperfect competition  |
| Authors: | | Skott, Peter Ryoo, Soon |
| Issue Date: | | 2011 |
| Series/Report no.: | | Working Paper, University of Massachusetts, Department of Economics 2011-25 |
| Abstract: | | Fiscal policy is needed to avoid dynamic inefficiency and maintain full employment in a modified Diamond OLG model with imperfect competition. A distributionally neutral tax scheme can maintain full employment in the face of variations in household confidence. No variations in taxes will be needed if households correctly anticipate future taxes: the tax policy functions as an insurance scheme. |
| Subjects: | | public debt Keynesian OLG model dynamic efficiency confidence |
| JEL: | | E62 E22 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Department of Economics, University of Massachusetts
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