Matches in Library of Congress for { <http://lccn.loc.gov/2009376010> ?p ?o. }
Showing items 1 to 27 of
27
with 100 items per page.
- 2009376010 abstract "This paper analyses the international dimension of fiscal policy using a small open economy framework in which the government finances its spending by levying distortionary taxation and issuing non-state-contingent debt. The main finding of the paper is that, once the open economy aspect of the policy problem is considered, it is not optimal to smooth taxes following idiosyncratic shocks. Even when prices are flexible and inflation can costlessly act as a shock absorber to restore fiscal equilibrium, the presence of a terms of trade externality lead to movements in the tax rate. Also in contrast with the closed economy, the introduction of sticky prices can reduce the optimal volatility of taxes.".
- 2009376010 contributor B11544999.
- 2009376010 contributor B11545000.
- 2009376010 contributor B11545001.
- 2009376010 created "c2009.".
- 2009376010 date "2009".
- 2009376010 date "c2009.".
- 2009376010 dateCopyrighted "c2009.".
- 2009376010 description "Includes bibliographical references.".
- 2009376010 description "Mode of access: World Wide Web.".
- 2009376010 description "System requirements: Adobe Acrobat Reader.".
- 2009376010 description "This paper analyses the international dimension of fiscal policy using a small open economy framework in which the government finances its spending by levying distortionary taxation and issuing non-state-contingent debt. The main finding of the paper is that, once the open economy aspect of the policy problem is considered, it is not optimal to smooth taxes following idiosyncratic shocks. Even when prices are flexible and inflation can costlessly act as a shock absorber to restore fiscal equilibrium, the presence of a terms of trade externality lead to movements in the tax rate. Also in contrast with the closed economy, the introduction of sticky prices can reduce the optimal volatility of taxes.".
- 2009376010 hasFormat "Also available in print.".
- 2009376010 identifier dp0905.pdf.
- 2009376010 isFormatOf "Also available in print.".
- 2009376010 isPartOf "CEP discussion paper ; no. 905".
- 2009376010 issued "2009".
- 2009376010 issued "c2009.".
- 2009376010 language "eng".
- 2009376010 publisher "London : Centre for Economic Performance, London School of Economics and Political Science,".
- 2009376010 relation "Also available in print.".
- 2009376010 requires "Mode of access: World Wide Web.".
- 2009376010 requires "System requirements: Adobe Acrobat Reader.".
- 2009376010 subject "HC10".
- 2009376010 subject "Optimal policy ; Fiscal policy ; Small open economy".
- 2009376010 title "On the international dimension of fiscal policy [electronic resource] / Gianluca Benigno and Bianca De Paoli.".
- 2009376010 type "text".