Optimal Policy in OG Models

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Standard

Optimal Policy in OG Models. / Ghiglino, Christian; Tvede, Mich.

I: Journal of Economic Theory, Bind 90, Nr. 1, 2000, s. 62-83.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Ghiglino, C & Tvede, M 2000, 'Optimal Policy in OG Models', Journal of Economic Theory, bind 90, nr. 1, s. 62-83. https://doi.org/10.1006/jeth.1999.2561

APA

Ghiglino, C., & Tvede, M. (2000). Optimal Policy in OG Models. Journal of Economic Theory, 90(1), 62-83. https://doi.org/10.1006/jeth.1999.2561

Vancouver

Ghiglino C, Tvede M. Optimal Policy in OG Models. Journal of Economic Theory. 2000;90(1):62-83. https://doi.org/10.1006/jeth.1999.2561

Author

Ghiglino, Christian ; Tvede, Mich. / Optimal Policy in OG Models. I: Journal of Economic Theory. 2000 ; Bind 90, Nr. 1. s. 62-83.

Bibtex

@article{47fc864074c611dbbee902004c4f4f50,
title = "Optimal Policy in OG Models",
abstract = "In the present paper general stationary overlapping generations economies with many commodities in every period and many different consumers in every generation are considered. A government maximizes a utilitarian social welfare function, which is the sum of weighted averages of utilities for generations, through fiscal policy, i.e., monetary transfers and taxes. Situations both with and without time discounting are considered. It is shown that if the discount factor is sufficiently close to one then the optimal policy stabilizes the economy, i.e. the equilibrium path has the turnpike property. Moreover the fiscal policy is shown to be time-consistent",
author = "Christian Ghiglino and Mich Tvede",
note = "JEL Classification: D51, D91, E52",
year = "2000",
doi = "10.1006/jeth.1999.2561",
language = "English",
volume = "90",
pages = "62--83",
journal = "Journal of Economic Theory",
issn = "0022-0531",
publisher = "Academic Press",
number = "1",

}

RIS

TY - JOUR

T1 - Optimal Policy in OG Models

AU - Ghiglino, Christian

AU - Tvede, Mich

N1 - JEL Classification: D51, D91, E52

PY - 2000

Y1 - 2000

N2 - In the present paper general stationary overlapping generations economies with many commodities in every period and many different consumers in every generation are considered. A government maximizes a utilitarian social welfare function, which is the sum of weighted averages of utilities for generations, through fiscal policy, i.e., monetary transfers and taxes. Situations both with and without time discounting are considered. It is shown that if the discount factor is sufficiently close to one then the optimal policy stabilizes the economy, i.e. the equilibrium path has the turnpike property. Moreover the fiscal policy is shown to be time-consistent

AB - In the present paper general stationary overlapping generations economies with many commodities in every period and many different consumers in every generation are considered. A government maximizes a utilitarian social welfare function, which is the sum of weighted averages of utilities for generations, through fiscal policy, i.e., monetary transfers and taxes. Situations both with and without time discounting are considered. It is shown that if the discount factor is sufficiently close to one then the optimal policy stabilizes the economy, i.e. the equilibrium path has the turnpike property. Moreover the fiscal policy is shown to be time-consistent

U2 - 10.1006/jeth.1999.2561

DO - 10.1006/jeth.1999.2561

M3 - Journal article

VL - 90

SP - 62

EP - 83

JO - Journal of Economic Theory

JF - Journal of Economic Theory

SN - 0022-0531

IS - 1

ER -

ID: 149268