Sequential equilibria in a Ramsey tax model

被引：78

作者：

Phelan, C

Stacchetti, E

机构：

[1] Research Dept, Federal Reserve Bank of Minneapolis

[2] Dept. of Economics, University of Michigan

来源：

ECONOMETRICA | 2001年 / 69卷 / 06期

关键词：

capital taxation; government credibility; time consistent government policy; recursive methods;

D O I：

10.1111/1468-0262.00255

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper presents a full characterization of the equilibrium value set of a Ramsey tax model. More generally, it develops a dynamic programming method for a class of policy games between the government and a continuum of households. By selectively incorporating Euler conditions into a strategic dynamic programming framework, we wed two technologies that are usually considered competing alternatives, resulting in a substantial simplification of the problem.

引用

收藏

页码：1491 / 1518

页数：28

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