Balanced budget rules and macroeconomic stability with non-separable utility
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Zsolt Darvas & Andrew K. Rose & György Szapáry, 2005.
"Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic,"
NBER Chapters, in: NBER International Seminar on Macroeconomics 2005, pages 261-298,
National Bureau of Economic Research, Inc.
- Zsolt Darvas & Andrew K. Rose & György Szapáry, 2005. "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic," MNB Working Papers 2005/03, Magyar Nemzeti Bank (Central Bank of Hungary).
- Zsolt Darvas & Andrew K. Rose & György Szapáry, 2005. "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic," Working Papers 0504, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest.
- Zsolt Darvas & Andrew K. Rose & György Szapáry, 2005. "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic," NBER Working Papers 11580, National Bureau of Economic Research, Inc.
- Szapáry, György & Rose, Andrew & Darvas, Zsolt, 2005. "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic," CEPR Discussion Papers 5188, C.E.P.R. Discussion Papers.
- Bennett, Rosalind L. & Farmer, Roger E. A., 2000.
"Indeterminacy with Non-separable Utility,"
Journal of Economic Theory, Elsevier, vol. 93(1), pages 118-143, July.
- Bennett, R.L. & Farmer, R.E.A., 1999. "Indeterminacy with Non-Separable Utility," Economics Working Papers eco99/34, European University Institute.
- Schmitt-Grohe, Stephanie & Uribe, Martin, 1997.
"Balanced-Budget Rules, Distortionary Taxes, and Aggregate Instability,"
Journal of Political Economy, University of Chicago Press, vol. 105(5), pages 976-1000, October.
- Stephanie Schmitt-Grohe & Martin Uribe, 1995. "Balanced-budget rules, distortionary taxes, and aggregate instability," Finance and Economics Discussion Series 95-44, Board of Governors of the Federal Reserve System (U.S.).
- Kydland, Finn E & Prescott, Edward C, 1982.
"Time to Build and Aggregate Fluctuations,"
Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
- Finn E. Kydland & Edward C. Prescott, 1982. "Executable program for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4, Quantitative Macroeconomics & Real Business Cycles.
- Finn E. Kydland & Edward C. Prescott, 1982. "Web interface for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4a, Quantitative Macroeconomics & Real Business Cycles.
- King, Robert G. & Plosser, Charles I. & Rebelo, Sergio T., 1988. "Production, growth and business cycles : I. The basic neoclassical model," Journal of Monetary Economics, Elsevier, vol. 21(2-3), pages 195-232.
- Hintermaier, Thomas, 2003. "On the minimum degree of returns to scale in sunspot models of the business cycle," Journal of Economic Theory, Elsevier, vol. 110(2), pages 400-409, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Mauro Bambi & Alain Venditti, 2021.
"Time‐varying consumption tax, productive government spending, and aggregate instability,"
International Journal of Economic Theory, The International Society for Economic Theory, vol. 17(2), pages 190-215, June.
- Mauro Bambi & Alain Venditti, 2016. "Time-varying Consumption Tax, Productive Government Spending, and Aggregate Instability," Discussion Papers 16/01, Department of Economics, University of York.
- Mauro Bambi & Alain Venditti, 2018. "Time-varying Consumption Tax, Productive Government Spending, and Aggregate Instability," Working Papers halshs-01934819, HAL.
- Mauro Bambi & Alain Venditti, 2018. "Time-varying Consumption Tax, Productive Government Spending, and Aggregate Instability," AMSE Working Papers 1829, Aix-Marseille School of Economics, France.
- Mauro Bambi & Alain Venditti, 2019. "Time‐varying consumption tax, productive government spending, and aggregate instability," Post-Print hal-02478346, HAL.
- David R. Stockman, 2022. "Balanced‐budget rules: Local indeterminacy and bifurcations," International Journal of Economic Theory, The International Society for Economic Theory, vol. 18(2), pages 109-136, June.
- Maxime Menuet & Alexandru Minea & Patrick Villieu, 2019.
"The Peril of Fiscal Rules,"
Post-Print
hal-02314996, HAL.
- Maxime MENUET & Alexandru MINEA & Patrick VILLIEU, 2019. "The Perils of Fiscal Rules," LEO Working Papers / DR LEO 2702, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
- Maxime Menuet & Alexandru Minea & Patrick Villieu, 2021. "The Perils of Fiscal Rules," Working Papers hal-02291307, HAL.
- Maxime MENUET & Alexandru MINEA & Patrick VILLIEU, 2017. "Public Debt, Endogenous Growth Cycles and Indeterminacy," LEO Working Papers / DR LEO 2467, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
- Jang‐Ting Guo & Yan Zhang, 2022.
"Macroeconomic stability under balanced‐budget rules and no‐income‐effect preferences,"
Pacific Economic Review, Wiley Blackwell, vol. 27(1), pages 3-17, February.
- Jang-Ting Guo & Yan Zhang, 2017. "Macroeconomic Stability under Balanced-Budget Rules and No-Income-Effect Preferences," Working Papers 201704, University of California at Riverside, Department of Economics.
- Matteo F. Ghilardi & Raffaele Rossi, 2014.
"Aggregate Stability and Balanced‐Budget Rules,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(8), pages 1787-1809, December.
- Matteo Ghilardi & Raffaele Rossi, 2011. "Aggregate Stability and Balanced-Budget Rules," School of Economics Discussion Papers 0411, School of Economics, University of Surrey.
- Matteo Ghilardi & Raffaele Rossi, 2014. "Aggregate Stability and Balanced-Budget Rules," IMF Working Papers 2014/023, International Monetary Fund.
- Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2018.
"Balanced‐Budget Rules and Aggregate Instability: The Role of Endogenous Capital Utilization,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(8), pages 1669-1709, December.
- Kevin x.d. Huang & Qinglai Meng & Jianpo Xue, 2017. "Balanced-budget rules and aggregate instability: The role of endogenous capital utilization," Vanderbilt University Department of Economics Working Papers 17-00005, Vanderbilt University Department of Economics.
- Abad, Nicolas & Seegmuller, Thomas & Venditti, Alain, 2017.
"Nonseparable Preferences Do Not Rule Out Aggregate Instability Under Balanced-Budget Rules: A Note,"
Macroeconomic Dynamics, Cambridge University Press, vol. 21(1), pages 259-277, January.
- Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2014. "Non-Separable Preferences do not Rule Out Aggregate Instability under Balanced-Budget Rules: A Note," Working Papers halshs-01933532, HAL.
- Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2017. "Nonseparable preferences do not rule out aggregate instability under balanced-budget rules: a note," Post-Print hal-01505770, HAL.
- Nicolas Abad & Thomas Seegmuller & Alain Venditti, 2014. "Non-Separable Preferences do not Rule Out Aggregate Instability under Balanced-Budget Rules: A Note," AMSE Working Papers 1826, Aix-Marseille School of Economics, France.
- Xue, Jianpo & Yip, Chong K., 2018. "Home production, balanced-budget taxation and economic (in)stability," Journal of Macroeconomics, Elsevier, vol. 56(C), pages 231-242.
- McKnight, Stephen, 2017.
"Are Consumption Taxes Preferable To Income Taxes For Preventing Macroeconomic Instability?,"
Macroeconomic Dynamics, Cambridge University Press, vol. 21(4), pages 1023-1058, June.
- Stephen McKnight, 2015. "Are consumption taxes preferable to income taxes in preventing macroeconomic instability?," Serie documentos de trabajo del Centro de Estudios Económicos 2015-04, El Colegio de México, Centro de Estudios Económicos.
- Huang, Kevin X.D. & Meng, Qinglai & Xue, Jianpo, 2017. "Balanced-budget income taxes and aggregate stability in a small open economy," Journal of International Economics, Elsevier, vol. 105(C), pages 90-101.
- Maxime Menuet & Alexandru Minea & Patrick Villieu, 2019. "Budget Rules, Distortionnary Taxes, and Aggregate Instability: A reappraisal," Working Papers hal-02153856, HAL.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Stefano Eusepi & Bruce Preston, 2009. "Labor Supply Heterogeneity and Macroeconomic Co-movement," NBER Working Papers 15561, National Bureau of Economic Research, Inc.
- Florin O. Bilbiie, 2009.
"Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2‐3), pages 443-450, March.
- Florin O. Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2-3), pages 443-450, March.
- Florin Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," Post-Print hal-00622869, HAL.
- Florin Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," PSE-Ecole d'économie de Paris (Postprint) hal-00622869, HAL.
- Florin Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00622869, HAL.
- Aleksandar Vasilev, 2013.
"On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework,"
Working Papers
2013_20, Business School - Economics, University of Glasgow.
- Vasilev, Aleksandar, 2013. "On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework," EconStor Preprints 142339, ZBW - Leibniz Information Centre for Economics.
- Vasilev, Aleksandar, 2013. "On the cost of rent-seeking by government bureaucrats in a Real-Business-Cycle framework," SIRE Discussion Papers 2013-84, Scottish Institute for Research in Economics (SIRE).
- Meng, Qinglai & Yip, Chong Kee, 2008. "On indeterminacy in one-sector models of the business cycle with factor-generated externalities," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 97-110, March.
- Vasilev, Aleksandar, 2013. "Essays on Real Business Cycle Modeling and the Public Sector," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 130522.
- Thomas Seegmuller, 2005.
"Steady state analysis and endogenous fluctuations in a finance constrained model,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-00194358, HAL.
- Thomas Seegmuller, 2005. "Steady state analysis and endogenous fluctuations in a finance constrained model," Post-Print halshs-00194358, HAL.
- Thomas Seegmuller, 2005. "Steady state analysis and endogenous fluctuations in a finance constrained model," Cahiers de la Maison des Sciences Economiques v05029, Université Panthéon-Sorbonne (Paris 1).
- Busato, Francesco & Chiarini, Bruno & Marchetti, Enrico, 2011.
"Indeterminacy, underground activities and tax evasion,"
Economic Modelling, Elsevier, vol. 28(3), pages 831-844, May.
- Francesco Busato & Bruno Charini & Enrico Marchetti, 2004. "Indeterminacy, Underground Activities and Tax Evasion," Economics Working Papers 2004-12, Department of Economics and Business Economics, Aarhus University.
- Enrico MARCHETTI & Francesco BUSATO & Bruno CHIARINI & Enrico MARCHETTI, 2010. "Indeterminacy, Underground Activities and Tax Evasion," EcoMod2010 259600112, EcoMod.
- Francesco Busato & Bruno Chiarini & Enrico Marchetti, 2005. "Indeterminacy, Underground Activities and Tax Evasion," Working Papers 289, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Bechlioulis, Alexandros P. & Brissimis, Sophocles N., 2021. "Identifying key aspects of household behavior in a representative agent framework," Economic Modelling, Elsevier, vol. 97(C), pages 105-117.
- Yoichi Gokan, 2017. "Do Consumption Externalities Correspond to the Indivisible Tax Rates on Consumpiton?," CIRJE F-Series CIRJE-F-1040, CIRJE, Faculty of Economics, University of Tokyo.
- Tarek Coury & Yi Wen, 2007. "Global indeterminacy in locally determinate RBC models," Working Papers 2007-029, Federal Reserve Bank of St. Louis.
- Yan Zhang, 2008. "Does the Utility Function Form Matter for Indeterminacy in a Two Sector Small Open Economy," Annals of Economics and Finance, Society for AEF, vol. 9(1), pages 91-101, May.
- Yoichi Gokan, 2017. "Do Consumption Externalities Correspond to the Indivisible Tax Rates on Consumpiton?," CIRJE F-Series CIRJE-F-1041, CIRJE, Faculty of Economics, University of Tokyo.
- Jang-Ting Guo & Sharon G. Harrison, 2001. "Tax Policy and Stability in a Model with Sector-Specific Externalities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(1), pages 75-89, January.
- Yariv, Leeat & Jackson, Matthew O., 2018.
"The Non-Existence of Representative Agents,"
CEPR Discussion Papers
13397, C.E.P.R. Discussion Papers.
- Matthew O. Jackson & Leeat Yariv, 2020. "The Non-Existence of Representative Agents," Working Papers 2020-74, Princeton University. Economics Department..
- M.S.Rafiq, 2006. "Business Cycle Moderation - Good Policies or Good Luck: Evidence and Explanations for the Euro Area," Discussion Paper Series 2006_21, Department of Economics, Loughborough University.
- Farmer, Roger E. A. & Jang-Ting, Guo, 1995.
"The econometrics of indeterminacy: an applied study,"
Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 43(1), pages 225-271, December.
- Roger E.A. Farmer, 1994. "The Econometrics of Indeterminacy: An Applied Study," UCLA Economics Working Papers 720, UCLA Department of Economics.
- Fuhrer, Jeffrey C., 1997.
"Towards a compact, empirically-verified rational expectations model for monetary policy analysis,"
Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 47(1), pages 197-230, December.
- Jeffrey C. Fuhrer, 1996. "Towards a compact, empirically verified rational expectations model for monetary policy analysis," Working Papers 96-8, Federal Reserve Bank of Boston.
- Rodrigo Suescún M., 1995.
"Growth, Welfare Costs and Aggregate Fluctuations in Economies with Monetary Taxation,"
Borradores de Economia
036, Banco de la Republica de Colombia.
- Rodrigo Suescún, 1995. "Growth, Welfare Costs And Aggregate Fluctuations In Economies With Monetary Taxation," Borradores de Economia 2775, Banco de la Republica.
- Rodrigo Suescún, 1995. "Growth Welfare Costs And Aggregate Fluctuations In Economies With Monetary Taxation," Borradores de Economia 2774, Banco de la Republica.
- Aleksandar Vasilev, 2017.
"Us Health And Aggregate Fluctuations,"
Bulletin of Economic Research, Wiley Blackwell, vol. 69(2), pages 147-163, April.
- Vasilev, Aleksandar, 2016. "US Health and Aggregate Fluctuations," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 69(2), pages 147-163.
- Aleksandar Vasilev, 2015. "US Health and Aggregate Fluctuations," Bulgarian Economic Papers bep-2015-01, Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski, revised Feb 2015.
- Vasilev, Aleksandar, 2016. "US Health and Aggregate Fluctuations," EconStor Preprints 144584, ZBW - Leibniz Information Centre for Economics.
- Chryssi Giannitsarou, 2007.
"Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes,"
Economic Journal, Royal Economic Society, vol. 117(523), pages 1423-1435, October.
- Chryssi Giannitsarou, 2004. "Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes," Econometric Society 2004 North American Summer Meetings 173, Econometric Society.
- Chryssi Giannitsarou, 2004. "Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes," Econometric Society 2004 North American Winter Meetings 498, Econometric Society.
- Giannitsarou, Chryssi, 2006. "Balanced Budget Rules and Aggregate Instability: The Role of Consumption Taxes," CEPR Discussion Papers 5531, C.E.P.R. Discussion Papers.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jmacro:v:30:y:2008:i:1:p:199-215. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622617 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.