Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
965528 | Journal of Macroeconomics | 2012 | 13 Pages |
Abstract
⺠In OG, the market-constrained efficient steady state is not a competitive outcome. ⺠A period-by-period balance fiscal policy decentralizes this steady state. ⺠It taxes capital returns and hands a second-period lump-sum transfer. ⺠Provides an efficiency rationale for taxing capital returns.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Julio Dávila,