| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13629 |
| 来源ID | Working Paper 13629 |
| Intertemporal Distortions in the Second best | |
| Stefania Albanesi; Roc Armenter | |
| 发表日期 | 2007-11-28 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper studies the long run properties of intertemporal distortions in a broad class of second best economies. Our unified framework encompasses and extends many well known models, such as variants of the Ramsey taxation model with aggregate or idiosyncratic risk, and economies with incentive compatibility constraints due to limited commitment, political economy, self-enforcement or private information, or combinations of these. We identify a sufficient condition that rules out permanent intertemporal distortions: If there exists an allocation that satisfies all constraints and eventually converges to the limiting first best allocation, then intertemporal distortions are temporary in the second best. This result uncovers a common optimality principle linking the intertemporal allocation of resources with the ability to frontload distortions for this broad class of environments. A series of applications illustrates the significance of these findings. |
| 主题 | Macroeconomics ; Fiscal Policy ; Public Economics ; Taxation |
| URL | https://www.nber.org/papers/w13629 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571312 |
| 推荐引用方式 GB/T 7714 | Stefania Albanesi,Roc Armenter. Intertemporal Distortions in the Second best. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13629.pdf（687KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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