Antecipation and the Time-Consistency of Fiscal Policy
This paper is concerned with the question of the existence of stationary Markov-perfect equilibrium in an overlapping generations growth model in the tradition of Diamond [19651, where in each period a government is in power, being interested in maximizing a social welfare function which consists of...
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| Format: | workingPaper |
| Language: | eng |
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2019
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| Online Access: | http://hdl.handle.net/10362/87360 |
| Country: | Portugal |
| Oai: | oai:run.unl.pt:10362/87360 |