Essays In The Theory And History Of Optimal Fiscal Policy
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Essays on Macroeconomic Theory Optimal Fiscal Policy and History of Macroeconomics
Author | : François Courtoy |
Publisher | : Presses universitaires de Louvain |
Total Pages | : 0 |
Release | : 2022-08-04 |
Genre | : Business & Economics |
ISBN | : 9782390612391 |
This thesis contributes to two fields of macroeconomics. The first two chapters contribute to the literature that investigates the role of household heterogeneity, in terms of marginal propensity to consume and labor income, for the 'optimal' design of fiscal policies. The first chapter explores how the introduction of household heterogeneity alters the prescriptions derived from the standard optimal fiscal policy framework that only accounts for a representative agent. When heterogeneity is accounted for the government uses taxation and transfers as a redistributing device that only partially corrects for fluctuations in income inequality. The second chapter builds on the results of the first. It develops a quantitative model that is estimated with US data on income and consumption dispersion among households. The model is then used to assess the relevance of the actual US fiscal policy. Unexpectedly, it concludes that the US fiscal policy is close to optimal. The third chapter contributes to the literature that is at the crossroad of the fields of history of macroeconomics and of macroeconomic pedagogy. It aims at reflecting on the theory used in the first two chapters of the thesis and in the teaching of macroeconomics. It identifies and discuss the deep methodological discrepancy between the theory used in research and graduate macroeconomics courses, on the one hand, and in undergraduate macroeconomic courses, in the other hand.
Fiscal Theory and Political Economy
Author | : James M. Buchanan |
Publisher | : UNC Press Books |
Total Pages | : 208 |
Release | : 2014-06-30 |
Genre | : Business & Economics |
ISBN | : 146961913X |
This important collection of eight interrelated essays fills a gap in English-language literature in public finance and fiscal theory. The author consistently emphasizes the central role of collective decision making in fiscal theories as well as the methodological setting in which positive proportions in fiscal theory must be developed. Originally published in 1960. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
Essays on Optimal Fiscal Policy
Author | : Stylianos Asimakopoulos |
Publisher | : |
Total Pages | : 205 |
Release | : 2014 |
Genre | : Business cycles |
ISBN | : |
The Effectiveness of Fiscal Policy in Stimulating Economic Activity
Author | : Richard Hemming |
Publisher | : International Monetary Fund |
Total Pages | : 62 |
Release | : 2002-12 |
Genre | : Business & Economics |
ISBN | : |
This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
NBER Macroeconomics Annual 2005
Author | : Kenneth S. Rogoff |
Publisher | : MIT Press |
Total Pages | : 479 |
Release | : 2006-04 |
Genre | : Business & Economics |
ISBN | : 0262072726 |
The 20th NBER Macroeconomics Annual, covering questions at the cutting edge of macroeconomics that are central to current policy debates.
Essays on Time-consistent Fiscal Policy
Author | : Joana Carolina Lins Pereira |
Publisher | : |
Total Pages | : 97 |
Release | : 2009 |
Genre | : Fiscal policy |
ISBN | : |