Sequential Equilibria in a Ramsey Tax Model
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. Copyright The Econometric Society.
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Volume (Year): 69 (2001)
Issue (Month): 6 (November)
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