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Implementing a Ramsey Plan

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NBER2024-07-01 更新2025-01-04 收录
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Lucas and Stokey (1983) motivated future governments to confirm an optimal tax plan by rescheduling government debt appropriately. Debortoli et al. (2021) showed that sometimes that does not work. We show how a Ramsey plan can always be implemented by adding instantaneous debt to Lucas and Stokeys

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2024-07-01
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