Optimal Government Spending in a Business Cycle Model
AbstractWe build a model of optimal time-consistent public spending in a dynamic general equilibrium model of the business cycle. We analyze the welfare properties of optimal public spending and characterize the optimal response of spending to exogenous economic shocks. Nous analysons les dépenses publiques optimales et intertemporellement cohérentes dans le contexte d'un modèle dynamique d'équilibre général du cycle économique. Nous calculons les effets des dépenses optimales sur le bien-être social et nous caractérisons la réponse optimale des dépenses publiques aux chocs exogènes.
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Bibliographic InfoPaper provided by CREFE, Université du Québec à Montréal in its series Cahiers de recherche CREFE / CREFE Working Papers with number 44.
Length: 46 pages
Date of creation: Sep 1996
Date of revision:
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business cycles; general equilibrium; optimal policy; governemnt spending;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
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