haku: @author Sussman, O. / yhteensä: 5
viite: 4 / 5
| Tekijä: | Roell, A. Sussman, O. |
| Otsikko: | Stabilization |
| Lehti: | European Economic Review
1997 : FEB, VOL. 41:2, p. 279-293 |
| Asiasana: | STABILIZATION OPTIMIZATION TAXATION INSURANCE MARKETS |
| Kieli: | eng |
| Tiivistelmä: | 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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