Politically Optimal Fiscal Policy

Politically Optimal Fiscal Policy
Why do governments issue large amounts of debt? In what sense and for whom is such a policy optimal? We show that twisting the optimal taxation paradigm produces very reasonable predictions for debt and real interest rates. Adding an extra dimension of uncertainty about the political planning horizon gives rise to a positive and very plausible... READ MORE...

Publication date: March 2007
ISBN 9781451866322
$18.00

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