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Optimal Fiscal Policy in a Linear Stochastic Economy

Author

Listed:
  • Thomas J. Sargent
  • Francois R. Velde

Programming Language

Matlab

Abstract

This code supports the text in Thomas J. Sargent and Francois R. Velde, Optimal Fiscal Policy in a Linear Stochastic Economy, in Ramon Marimon and Andrew Scott (eds), Computational Methods for the Study of Dynamic Economies, Chapter 9, Oxford University Press. This chapter describes in detail how to solve the so-called Stokey-Lucas model of optimal taxation and to program it in Matlab. The state-process is either governed by a first order linear difference equation or a first order Markov Chain.

Suggested Citation

  • Thomas J. Sargent & Francois R. Velde, 1998. "Optimal Fiscal Policy in a Linear Stochastic Economy," QM&RBC Codes 130, Quantitative Macroeconomics & Real Business Cycles.
    • Handle: RePEc:dge:qmrbcd:130
    as

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    File URL: https://dge.repec.org/codes/marimon-scott/Velde/
    File Function: program code
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    Citations

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    Cited by:

    1. Fernando Lozano & Jaime Lozano & Mario García, 2007. "An artificial economy based on reinforcement learning and agent based modeling," Documentos de Trabajo 3907, Universidad del Rosario.

    More about this item

    Keywords

    Matlab;

    Statistics

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