Globally-Stabilizing Fiscal Policy Rules
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| 024 | 7 | 0 | |a 10.2202/1558-3708.1103 |2 doi |
| 035 | |a (NATIONALLICENCE)gruyter-10.2202/1558-3708.1103 | ||
| 245 | 0 | 0 | |a Globally-Stabilizing Fiscal Policy Rules |h [Elektronische Daten] |c [Jang-Ting Guo, Kevin J Lansing] |
| 520 | 3 | |a This paper demonstrates how fiscal policy rules can be designed to eliminate all forms of endogenous fluctuations in a one-sector growth model with increasing returns-to-scale. When the policy rules are implemented, agents' optimal decisions depend only on the current state of the economy and not on any expected future states. This property shuts down the mechanism for expectations-driven fluctuations. The proposed policy rules ensure a globally unique and stable equilibrium, regardless of the degree of increasing returns. | |
| 540 | |a ©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston | ||
| 700 | 1 | |a Guo |D Jang-Ting |u University of California, Riverside, guojt@mail.ucr.edu |4 aut | |
| 700 | 1 | |a Lansing |D Kevin J. |u Federal Reserve Bank of San Francisco, kevin.j.lansing@sf.frb.org |4 aut | |
| 773 | 0 | |t Studies in Nonlinear Dynamics & Econometrics |d De Gruyter |g 7/2(2003-07-01) |q 7:2 |1 2003 |2 7 |o snde | |
| 856 | 4 | 0 | |u https://doi.org/10.2202/1558-3708.1103 |q text/html |z Onlinezugriff via DOI |
| 908 | |D 1 |a research article |2 jats | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.2202/1558-3708.1103 |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Guo |D Jang-Ting |u University of California, Riverside, guojt@mail.ucr.edu |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Lansing |D Kevin J. |u Federal Reserve Bank of San Francisco, kevin.j.lansing@sf.frb.org |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Studies in Nonlinear Dynamics & Econometrics |d De Gruyter |g 7/2(2003-07-01) |q 7:2 |1 2003 |2 7 |o snde | ||
| 900 | 7 | |b CC0 |u http://creativecommons.org/publicdomain/zero/1.0 |2 nationallicence | |
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