Procyclical Fiscal Policy and Asset Market Incompleteness
收藏NBER2021-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w29149
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To explain the fact that government spending and tax policy are procyclical in emerging and developing countries, we develop a model for the joint behavior of optimal tax rates and government spending over the business cycle. Our set-up relies on financial frictions, which have been shown to be
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美国国家经济研究局创建时间：
2021-08-01
