| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6584 |
| DP6584 Optimal Credit Risk Transfer, Monitored Finance and Real Investment Activity | |
| Sudipto Bhattacharya; Gabriella Chiesa | |
| 发表日期 | 2007-11-29 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We consider a very general class of public finance problems that encompasses the Ramsey model of optimal taxation as well as economies with limited commitment, private information, and political economy frictions, and allows for incomplete markets. We identify a sufficient condition to rule out permanent intertemporal distortions at the optimum. If there exists an admissible allocation that converges to the first best steady state, then all intertemporal distortions are temporary in the second best. We analyze a series of applications to illustrate the significance of this result. |
| 主题 | International Macroeconomics ; Public Economics |
| 关键词 | Intertemporal distortions Optimal dynamic taxation |
| URL | https://cepr.org/publications/dp6584 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535422 |
| 推荐引用方式 GB/T 7714 | Sudipto Bhattacharya,Gabriella Chiesa. DP6584 Optimal Credit Risk Transfer, Monitored Finance and Real Investment Activity. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
