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Optimal Time-Consistent Fiscal Policy with Finite Lifetimes

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Citations

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Cited by:

  1. Sushant Acharya & Edouard Challe & Keshav Dogra, 2020. "Optimal Monetary Policy According to HANK," Staff Reports 916, Federal Reserve Bank of New York.
  2. X. Pautrel, 2008. "Reconsidering the Impact of the Environment on Long-run Growth when Pollution Influences Health and Agents have a Finite-lifetime," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 40(1), pages 37-52, May.
  3. Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2017. "Optimal Tax Progressivity: An Analytical Framework," The Quarterly Journal of Economics, Oxford University Press, vol. 132(4), pages 1693-1754.
  4. Enrique G. Mendoza & Linda L. Tesar, 1995. "Supply-Side Economics in a Global Economy," NBER Working Papers 5086, National Bureau of Economic Research, Inc.
  5. repec:dgr:rugsom:05c04 is not listed on IDEAS
  6. Feigenbaum, James & Gahramanov, Emin & Tang, Xueli, 2013. "Is it really good to annuitize?," Journal of Economic Behavior & Organization, Elsevier, vol. 93(C), pages 116-140.
  7. Maik T. Schneider & Ralph Winkler, 2021. "Growth and Welfare under Endogenous Lifetimes," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(4), pages 1339-1384, October.
  8. Antoine Bommier & Ronald D. Lee, 2003. "Overlapping generations models with realistic demography," Journal of Population Economics, Springer;European Society for Population Economics, vol. 16(1), pages 135-160, February.
  9. Fisher, Walter H. & Heijdra, Ben J., 2009. "Keeping up with the ageing Joneses," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 53-64, January.
  10. Fabio Canova & Morten Ravn, 2000. "The Macroeconomic Effects of German Unification: Real Adjustments and the Welfare State," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(3), pages 423-460, July.
  11. Laurence Kotlikoff & Felix Kubler & Andrey Polbin & Jeffrey Sachs & Simon Scheidegger, 2021. "Making Carbon Taxation A Generational Win Win," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(1), pages 3-46, February.
  12. Benjamin Carton, 2012. "Monetary-Policy Tradeoff in Overlapping Generations DSGE Models," DEM Working Papers Series 028, University of Pavia, Department of Economics and Management.
  13. Tatiana Kirsanova & Mathan Satchi & David Vines & Simon Wren-Lewis, 2007. "Optimal Fiscal Policy Rules in a Monetary Union," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1759-1784, October.
  14. Frenkel, Jacob A & Razin, Assaf, 1987. "Fiscal Policies and the World Economy; An Intertemporal Approach (Cambridge, Mass.: MIT Press, 1987)," MPRA Paper 20438, University Library of Munich, Germany.
  15. Antoine Lepetit, 2022. "The Optimal Inflation Rate with Discount Factor Heterogeneity," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 1971-1996, October.
  16. Brito Paulo & Marini Giancarlo & Piergallini Alessandro, 2016. "House prices and monetary policy," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 20(3), pages 251-277, June.
  17. Marchand, Maurice & Michel, Philippe & Pestieau, Pierre, 1996. "Intergenerational transfers in an endogenous growth model with fertility changes," European Journal of Political Economy, Elsevier, vol. 12(1), pages 33-48, April.
  18. Nakata, Taisuke & Ogaki, Ryota & Schmidt, Sebastian & Yoo, Paul, 2019. "Attenuating the forward guidance puzzle: Implications for optimal monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 90-106.
  19. Erling Steigum & Øystein Thøgersen, 2003. "Borrow and Adjust: Fiscal Policy and Sectoral Adjustment in an Open Economy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(2), pages 699-724, May.
  20. Fagan, Gabriel & Gaspar, Ví­tor, 2008. "Macroeconomic adjustment to monetary union," Working Paper Series 946, European Central Bank.
  21. Tatiana Kirsanova & Simon Wren‐Lewis, 2012. "Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities," Economic Journal, Royal Economic Society, vol. 122(559), pages 238-264, March.
  22. Keuschnigg, Christian & Kohler, Wilhelm, 1996. "Commercial policy and dynamic adjustment under monopolistic competition," Journal of International Economics, Elsevier, vol. 40(3-4), pages 373-409, May.
  23. Ben J. Heijdra & Ward E. Romp, 2008. "A life-cycle overlapping-generations model of the small open economy," Oxford Economic Papers, Oxford University Press, vol. 60(1), pages 88-121, January.
  24. Kankanamge, Sumudu & Weitzenblum, Thomas, 2016. "Time-consistent unemployment insurance," TSE Working Papers 16-657, Toulouse School of Economics (TSE).
  25. Linus Mattauch & Ottmar Edenhofer & David Klenert & Sophie Bénard, 2016. "Distributional Effects of Public Investment when Wealth and Classes are Back," Metroeconomica, Wiley Blackwell, vol. 67(3), pages 603-629, July.
  26. Giancarlo Marini & Pasquale Scaramozzino, 1999. "Social security and intergenerational equity," Journal of Economics, Springer, vol. 70(1), pages 17-35, February.
  27. Robin Boadway & Michael Keen, 2014. "Rent Taxes and Royalties in Designing Fiscal Regimes for Non-Renewable Resources," CESifo Working Paper Series 4568, CESifo.
  28. John Creedy & Shuyun May Li & Solmaz Moslehi, 2008. "The Composition of Government Expenditure in an Overlapping Generations Model," Department of Economics - Working Papers Series 1043, The University of Melbourne.
  29. Obstfeld, Maurice, 1989. "Fiscal deficits and relative prices in a growing world economy," Journal of Monetary Economics, Elsevier, vol. 23(3), pages 461-484, May.
  30. Pautrel, Xavier, 2012. "Environmental Policy, Education And Growth: A Reappraisal When Lifetime Is Finite," Macroeconomic Dynamics, Cambridge University Press, vol. 16(5), pages 661-685, November.
  31. Wendner, Ronald, 2010. "Growth And Keeping Up With The Joneses," Macroeconomic Dynamics, Cambridge University Press, vol. 14(S2), pages 176-199, November.
  32. Can Askan Mavi, 2017. "What Can Abrupt Events Tell Us About Sustainability ?," Working Papers hal-01628682, HAL.
  33. Millner, Antony & Heal, Geoffrey, 2018. "Time consistency and time invariance in collective intertemporal choice," Journal of Economic Theory, Elsevier, vol. 176(C), pages 158-169.
  34. van der Ploeg, Frederick, 1988. "Monetary and Fiscal Policy in Interdependent Economies with Capital Accumulation, Death and Population Growth," CEPR Discussion Papers 270, C.E.P.R. Discussion Papers.
  35. Walter Fisher & Christian Keuschnigg, 2010. "Pension reform and labor market incentives," Journal of Population Economics, Springer;European Society for Population Economics, vol. 23(2), pages 769-803, March.
  36. Lee H. Endress & Sittidaj Pongkijvorasin & James Roumasset & Christopher Wada, 2013. "Intergenerational Equity with Individual Impatience in an OLG Model of Optimal and Sustainable Growth," Working Papers 2013-9, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
  37. Keuschnigg, Christian & Fisher, Walter, 2011. "Life-Cycle Unemployment, Retirement and Parametric Pension Reform," Economics Working Paper Series 1119, University of St. Gallen, School of Economics and Political Science.
  38. Mavi, Can Askan, 2019. "What can catastrophic events tell us about sustainability?," Journal of Mathematical Economics, Elsevier, vol. 83(C), pages 70-83.
  39. Suzanne Kok, 2013. "Town and city jobs: Your job is different in another location," CPB Discussion Paper 246.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
  40. Obstfeld, Maurice, 1998. "Foreign Resource Inflows, Saving, and Growth," Center for International and Development Economics Research (CIDER) Working Papers 233618, University of California-Berkeley, Department of Economics.
  41. Nathalie Mathieu-Bolh, 2011. "Optimal Taxation and Income Mobility with Borrowing Limits," Public Finance Review, , vol. 39(3), pages 393-428, May.
  42. Seong Hyeon Whang, 2004. "An Examination Of The Effects And Costs Of Temporary Policy," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 29(1), pages 123-136, June.
  43. Laurence J. Kotlikoff & Andrey V. ZUBAREV & Andrey POLBIN, 2021. "Will the Paris accord accelerate climate change [Ускоряет Ли Парижское Соглашение Изменение Климата?]," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 8-37, February.
  44. Willem H. Buiter & K.M. Kletzer, 1994. "Ponzi Finance, Government Solvency and the Redundancy or Usefulness of Public Debt," Cowles Foundation Discussion Papers 1070, Cowles Foundation for Research in Economics, Yale University.
  45. Mourmouras, Iannis A. & Ghosh, Sugata, 2000. "Fiscal Policies and the Terms of Trade in an Endogenous Growth Model with Overlapping Generations," Journal of Macroeconomics, Elsevier, vol. 22(3), pages 445-470, July.
  46. van de Klundert, T.C.M.J. & Gradus, R.H.J.M., 1990. "Optimal government debt under distortionary taxation," Discussion Paper 1990-30, Tilburg University, Center for Economic Research.
  47. Vincent Touzé, 2009. "Incidence fiscale des retraites par répartition. Une exploration analytique," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(4), pages 103-124.
  48. Lee, R., 2016. "Macroeconomics, Aging, and Growth," Handbook of the Economics of Population Aging, in: Piggott, John & Woodland, Alan (ed.), Handbook of the Economics of Population Aging, edition 1, volume 1, chapter 0, pages 59-118, Elsevier.
  49. Torben Andersen, 2014. "Intergenerational redistribution and risk sharing with changing longevity," Journal of Economics, Springer, vol. 111(1), pages 1-27, February.
  50. Mattauch, Linus & Klenert, David & Stiglitz, Joseph E. & Edenhofer, Ottmar, 2022. "Overcoming wealth inequality by capital taxes that finance public investment," Structural Change and Economic Dynamics, Elsevier, vol. 63(C), pages 383-395.
  51. Laurence J. Kotlikoff & Felix Kubler & Andrey Polbin & Simon Scheidegger, 2021. "Can Today's and Tomorrow's World Uniformly Gain from Carbon Taxation?," NBER Working Papers 29224, National Bureau of Economic Research, Inc.
  52. repec:ebl:ecbull:v:5:y:2005:i:1:p:1-6 is not listed on IDEAS
  53. Giancarlo Marini & Pasquale Scaramozzino, 2008. "Social time preference: a rejoinder," Journal of Population Economics, Springer;European Society for Population Economics, vol. 21(3), pages 623-625, July.
  54. Bouché, Stéphane & de Miguel, Carlos, 2019. "Endogenous aspirations, growth and the rise of environmental concerns," Energy Economics, Elsevier, vol. 84(S1).
  55. Christoph Heinzel & Ralph Winkler, 2011. "Distorted Time Preferences and Time-to-Build in the Transition to a Low-Carbon Energy Industry," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 49(2), pages 217-241, June.
  56. William Scarth, 1999. "Alternatives for Raising Living Standards," Quantitative Studies in Economics and Population Research Reports 344, McMaster University.
  57. Ghiglino, Christian & Tvede, Mich, 2000. "Optimal Policy in OG Models," Journal of Economic Theory, Elsevier, vol. 90(1), pages 62-83, January.
  58. Ganelli, Giovanni, 2005. "The new open economy macroeconomics of government debt," Journal of International Economics, Elsevier, vol. 65(1), pages 167-184, January.
  59. Young Chun, 2001. "The Redistributive Effect of Risky Taxation," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 8(4), pages 433-454, August.
  60. Kumhof, Michael & Laxton, Douglas & Leigh, Daniel, 2014. "To starve or not to starve the beast?," Journal of Macroeconomics, Elsevier, vol. 39(PA), pages 1-23.
  61. Ben J. Heijdra & Pim Heijnen, 2021. "Reversible Environmental Catastrophes with Disconnected Generations," De Economist, Springer, vol. 169(2), pages 211-252, May.
  62. Ekeland, Ivar & Karp, Larry & Sumaila, Rashid, 2011. "Equilibrium management of fisheries with altruistic overlapping generations," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt8615756p, Department of Agricultural & Resource Economics, UC Berkeley.
  63. Leith, Campbell & Moldovan, Ioana & Wren-Lewis, Simon, 2019. "Debt Stabilization In A Non-Ricardian Economy," Macroeconomic Dynamics, Cambridge University Press, vol. 23(6), pages 2509-2543, September.
  64. Yigit Aydede, 2010. "Generational selfishness and social security: a time-inconsistency problem in parametric reforms of PAYG," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 13(2), pages 179-190.
  65. Wendner, Ronald, 2008. "Externalities in a Model of Perpetual Youth with Age-Dependent Productivity," MPRA Paper 11335, University Library of Munich, Germany.
  66. Stephen Kosempel & Robindranath Banerjee, 2005. "Inter-Generational Redistribution in an Endogenous Growth Model," Economics Bulletin, AccessEcon, vol. 5(1), pages 1-6.
  67. Thomas Krichel & Paul Levine & Joseph Pearlman, 1996. "Fiscal and monetary policy in a monetary union: Credible inflation targets or monetized debt?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 132(1), pages 28-54, March.
  68. d'Albis, Hippolyte & Ambec, Stefan, 2010. "Fair intergenerational sharing of a natural resource," Mathematical Social Sciences, Elsevier, vol. 59(2), pages 170-183, March.
  69. Kazutoshi Miyazawa, 2001. "Incentives and Product Variety in an Aging Economy," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 8(4), pages 595-607, August.
  70. Mendoza, Enrique G & Tesar, Linda L, 1998. "The International Ramifications of Tax Reforms: Supply-Side Economics in a Global Economy," American Economic Review, American Economic Association, vol. 88(1), pages 226-245, March.
  71. Ambler, Steve, 1999. "Les modèles à agent représentatif et la politique de taxation optimale," L'Actualité Economique, Société Canadienne de Science Economique, vol. 75(4), pages 539-557, décembre.
  72. Siegmeier, Jan & Mattauch, Linus & Edenhofer, Ottmar, 2018. "Capital beats coal: How collecting the climate rent increases aggregate investment," Journal of Environmental Economics and Management, Elsevier, vol. 88(C), pages 366-378.
  73. Linus Mattauch & Ottmar Edenhofer & David Klenert & Sophie Bénard, 2014. "Public Investment when Capital is Back - Distributional Effects of Heterogeneous Saving Behavior," CESifo Working Paper Series 4714, CESifo.
  74. Gonzalez, Francisco M. & Lazkano, Itziar & Smulders, Sjak A., 2018. "Intergenerational altruism with future bias," Journal of Economic Theory, Elsevier, vol. 178(C), pages 436-454.
  75. Yigit Aydede, 2010. "Generational selfishness and social security: a time‐inconsistency problem in parametric reforms of PAYG," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 13(2), pages 179-190.
  76. Buiter, Willem H. & Kletzer, Kenneth M., 1991. "The welfare economics of cooperative and noncooperative fiscal policy," Journal of Economic Dynamics and Control, Elsevier, vol. 15(1), pages 215-244.
  77. Casper Ewijk, 2009. "Credit Crisis and Dutch Pension Funds: Who Bears the Shock?," De Economist, Springer, vol. 157(3), pages 337-351, September.
  78. Endress, Lee H. & Pongkijvorasin, Sittidaj & Roumasset, James & Wada, Christopher A., 2014. "Intergenerational equity with individual impatience in a model of optimal and sustainable growth," Resource and Energy Economics, Elsevier, vol. 36(2), pages 620-635.
  79. Creedy, John & Li, Shuyun May & Moslehi, Solmaz, 2010. "Inequality Aversion And The Optimal Composition Of Government Expenditure," Macroeconomic Dynamics, Cambridge University Press, vol. 14(S2), pages 290-306, November.
  80. Kosempel, Stephen, 2004. "Finite lifetimes and government spending in an endogenous growth model," Journal of Economics and Business, Elsevier, vol. 56(3), pages 197-210.
  81. Dirk Willenbockel, 2008. "Social time preference revisited," Journal of Population Economics, Springer;European Society for Population Economics, vol. 21(3), pages 609-622, July.
  82. Douglas W. Elmendorf & Louise Sheiner, 2000. "Should America save for its old age? Population aging, national saving, and fiscal policy," Finance and Economics Discussion Series 2000-03, Board of Governors of the Federal Reserve System (U.S.).
  83. Meijdam, Lex & Verbon, Harrie A A, 1997. "Aging and Public Pensions in an Overlapping-Generations Model," Oxford Economic Papers, Oxford University Press, vol. 49(1), pages 29-42, January.
  84. Brian R. Copeland & M. Scott Taylor, 2009. "Trade, Tragedy, and the Commons," American Economic Review, American Economic Association, vol. 99(3), pages 725-749, June.
  85. Gabriela Castro & José R. Maria & Ricardo Mourinho Félix & Vanda Almeida, 2010. "Fiscal Stimulus in a Small Euro Area Economy," Working Papers w201016, Banco de Portugal, Economics and Research Department.
  86. Vincent Touzé, 2009. "Incidence fiscale des retraites par répartition," Post-Print hal-03460023, HAL.
  87. Francis Bismans & Frédéric Docquier & Claude Jessua, 1996. "Consommation, épargne et accumulation dans la transition démographique," Revue Économique, Programme National Persée, vol. 47(3), pages 667-676.
  88. Lugovoy, O. & Polbin, A., 2016. "On Intergenerational Distribution of the Burden of Greenhouse Gas Emissions," Journal of the New Economic Association, New Economic Association, vol. 31(3), pages 12-39.
  89. Jan Siegmeier & Linus Mattauch & Ottmar Edenhofer, 2015. "Climate Policy Enhances Efficiency: A Macroeconomic Portfolio Effect," CESifo Working Paper Series 5161, CESifo.
  90. Can Askan Mavi, 2019. "What can catastrophic events tell us about sustainability?," Post-Print halshs-02142121, HAL.
  91. Wendner, Ronald, 2009. "Conspicuous Consumption and Overlapping Generations," MPRA Paper 15527, University Library of Munich, Germany.
  92. Fabio Ghironi & Alessandro Rebucci, 2000. "Monetary Rules for Emerging Market Economies," Boston College Working Papers in Economics 476, Boston College Department of Economics, revised 13 Aug 2001.
  93. Antony Millner & Geoffrey Heal, 2016. "Collective Intertemporal Choice: the Possibility of Time Consistency," NBER Working Papers 22524, National Bureau of Economic Research, Inc.
  94. Giancarlo Marini & Pasquale Scaramozzino, 1999. "Social Time Preference," Working Papers 65, Department of Economics, SOAS University of London, UK.
  95. Heijdra, Ben J. & Meijdam, Lex, 2002. "Public investment and intergenerational distribution," Journal of Economic Dynamics and Control, Elsevier, vol. 26(5), pages 707-735, May.
  96. Wendner, Ronald, 2010. "Conspicuous consumption and generation replacement in a model of perpetual youth," Journal of Public Economics, Elsevier, vol. 94(11-12), pages 1093-1107, December.
  97. Antony Millner & Geoffrey Heal, 2015. "Collective intertemporal choice: time consistency vs. time invariance," GRI Working Papers 220, Grantham Research Institute on Climate Change and the Environment.
  98. Mathieu-Bolh, Nathalie, 2006. "Optimal taxation and finite horizon," Economics Letters, Elsevier, vol. 91(2), pages 215-221, May.
  99. Fabio Ghironi, 2000. "Alternative Monetary Rules for a Small Open Economy: The Case of Canada," Boston College Working Papers in Economics 466, Boston College Department of Economics, revised 30 Oct 2000.
  100. Robin Boadway, 2017. "Second-Best Theory: Ageing well at Sixty," Pacific Economic Review, Wiley Blackwell, vol. 22(2), pages 249-270, May.
  101. Arnaud Goussebaïle, 2022. "Democratic Climate Policies with Overlapping Generations," CER-ETH Economics working paper series 22/374, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  102. William Scarth, 1999. "Alternatives for Raising Living Standards," Social and Economic Dimensions of an Aging Population Research Papers 5, McMaster University.
  103. Boadway, Robin, 1999. "Le rôle de la théorie de l’optimum du second rang en économie publique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 75(1), pages 29-65, mars-juin.
  104. Schneider, Maik T. & Traeger, Christian P. & Winkler, Ralph, 2012. "Trading off generations: Equity, discounting, and climate change," European Economic Review, Elsevier, vol. 56(8), pages 1621-1644.
  105. Torben M. Andersen & Marias H. Gestsson, 2010. "Longevity, Growth and Intergenerational Equity - The Deterministic Case," Economics wp52, Department of Economics, Central bank of Iceland.
  106. Rauscher, Michael, 2019. "Demographic change and climate change," Thuenen-Series of Applied Economic Theory 160, University of Rostock, Institute of Economics.
  107. Rodrigo Adão & Martin Beraja & Nitya Pandalai-Nayar, 2020. "Technological Transitions with Skill Heterogeneity Across Generations," NBER Working Papers 26625, National Bureau of Economic Research, Inc.
  108. Vincent Touzé, 2005. "Fiscal incidence of unfunded pension system: an analytical investigation," Documents de Travail de l'OFCE 2005-03, Observatoire Francais des Conjonctures Economiques (OFCE).
  109. Stephen Mccafferty, 1997. "Optimal Capital Taxation and Debt Policy in a Finite-Horizon Macro Model," Public Finance Review, , vol. 25(6), pages 577-600, November.
  110. Lorz, Jens Oliver, 1999. "The political economy of intra- and intergenerational redistribution with asymmetric information," Kiel Working Papers 904, Kiel Institute for the World Economy (IfW Kiel).
  111. Andersen, Torben M., 2012. "Fiscal sustainability and demographics – Should we save or work more?," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 264-280.
  112. Ekeland, Ivar & Karp, Larry & Sumaila, Rashid, 2015. "Equilibrium resource management with altruistic overlapping generations," Journal of Environmental Economics and Management, Elsevier, vol. 70(C), pages 1-16.
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