Sustaining Ramsey plans with one-period bonds
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DOI: 10.1007/s00199-019-01212-9
Abstract: Governments issue bonds that affect the choices of future governments. If carefully chosen, the debt structure can make the optimal fiscal policy plan time consistent, as shown by Lucas and Stokey (J Monet Econ 12(1):55–93,… read more here.
Keywords: one period; ramsey; policy plan; period bonds ... See more keywords