Indeterminacy and stabilization policy

DOI10.1006/JETH.1997.2446zbMath0916.90044OpenAlexW2075388021MaRDI QIDQ1276121

Jang-Ting Guo, Kevin J. Lansing

Publication date: 30 June 1999

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://semanticscholar.org/paper/f3bf7fed40d910810aa9a1b94af4596c001759c5

zbMATH Keywords

income tax scheduleone-sector real business cycle model

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Economic growth models (91B62)

Related Items (23)

Progressive taxation and macroeconomic stability in two-sector models with social constant returns ⋮ On the role of progressive taxation in a Ramsey model with heterogeneous households ⋮ Market distortions and local indeterminacy: a general approach ⋮ Progressive taxation as an automatic stabilizer under nominal wage rigidity and preference shocks ⋮ NOTE ON CONVERGENCE UNDER INCOME TAX PROGRESSIVITY ⋮ Introduction to financial frictions and debt constraints ⋮ Fiscal policy, debt constraint and expectations-driven volatility ⋮ Multiple equilibria and progressive taxation of labor income ⋮ Can progressive taxation account for cross-country variation in labor supply? ⋮ Factor substitution and taxation in a finance constrained economy ⋮ Indeterminacy and fiscal policies in a growing economy ⋮ The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures ⋮ Progressive taxation and macroeconomic (in)stability with productive government spending ⋮ Indeterminacy, intergenerational redistribution, endogenous longevity and human capital accumulation ⋮ Consumption externalities and equilibrium dynamics with heterogeneous agents ⋮ Indeterminacy and endogenous growth with social constant returns ⋮ Balanced-budget rules and macroeconomic (in)stability ⋮ (In)determinacy, increasing returns, and the optimality of the Friedman rule in an endogenously growing open economy ⋮ Progressive consumption tax and monetary policy in an endogenous growth model ⋮ Sectoral composition of government spending, distortionary income taxation, and macroeconomic (in)stability ⋮ Comparing recursive equilibrium in economies with dynamic complementarities and indeterminacy ⋮ Progressive taxation as an automatic destabilizer under endogenous growth ⋮ Economic growth and inequality tradeoffs under progressive taxation

Cites Work

• Self-fulfilling prophecies
• Indeterminacy and increasing returns
• Real business cycles and the animal spirits hypothesis
• Stability of Equilibria with Externalities
• SELF-FULFILLING PROPHECIES AND THE BUSINESS CYCLE
• FISCAL POLICY, INCREASING RETURNS, AND ENDOGENOUS FLUCTUATIONS

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