Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/72558
Authors: 
Philippopoulos, Apostolis
Varthalitis, Petros
Vassilatos, Vanghelis
Year of Publication: 
2013
Series/Report no.: 
CESifo Working Paper 4199
Abstract: 
We welfare rank various tax-spending policies. The setup is a New Keynesian model of a semi-small open economy featuring sovereign risk premia and loss of monetary policy independence. The model is calibrated to match data from the Italian economy 2001-2011. We compute various optimized state-contingent tax-spending policy rules when the policy aim is shock stabilization and/or debt consolidation.
Subjects: 
feedback policy rules
New Keynesian
sovereign premia
JEL: 
E60
F30
H60
Document Type: 
Working Paper

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