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| Author: | Bisin, A. Rampini, A. |
| Title: | Markets as beneficial constraints on the government |
| Journal: | Journal of Public Economics
2006 : MAY, VOL. 90:4-5, p. 601-629 |
| Index terms: | economics government markets public sector |
| Language: | eng |
| Abstract: | This article examines anonymous markets, in which trades cannot be monitored by the government, by developing a model where agents have private information and a benevolent government controls optimal redistributive taxation. The authors find that the constraints created by anonymous markets on optimal fiscal policy may have a positive impact on welfare in this case. |
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