search query: @author Roell, A. / total: 3
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| Author: | Roell, A. Sussman, O. |
| Title: | Stabilization |
| Journal: | European Economic Review
1997 : FEB, VOL. 41:2, p. 279-293 |
| Index terms: | STABILIZATION OPTIMIZATION TAXATION INSURANCE MARKETS |
| Language: | eng |
| Abstract: | In the paper, concepts of 'activist macroeconomic policy' and 'stabilization' are investigated within an optimal taxation framework when insurance markets are incomplete. A welfare analysis of a macroeconomic stabilization policy is conducted. As to the optimal tax scheme, it is shown that depending on the exact specification of preferences, the optimal tax may have a 'stabilizing' or 'destabilizing' effect. The basic structure of the model used is taken from Diamond and Dybvig (1983). |
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