Indeterminacy and Stabilization Policy
AbstractA demonstration of how an income tax schedule that exhibits a progressivity feature can ensure saddle-path stability in a one-sector, real business-cycle model with sufficient increasing returns in production, thereby shielding the economy against sunspot fluctuations.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 82 (1998)
Issue (Month): 2 (October)
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Web page: http://www.elsevier.com/locate/inca/622869
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