Matches in SemOpenAlex for { <https://semopenalex.org/work/W3150289326> ?p ?o ?g. }
Showing items 1 to 75 of
75
with 100 items per page.
- W3150289326 abstract "The paper surveys a number of neo-classical and neo-Keynesian approcaches to government financial policy. After reviewing the very restrictive conditions under which financial policy is just a veil without real consequences, non-neutral financial policy in neo-classical models is analyzed. At full employment, the substitution of borrowing for lump sum taxes crowds outprivate capital formation in a closed economy.Government financial policy can be used to implement optimal intertemporal risk distribution schemes. In the presence of distortionary taxes, the smoothing of tax rates over time may be optimal even where this involves systematic and predictable departures from continuous budget balance. The case for deficit finance and the operation of the automatic fiscal stabilizers in a Keynesian world with disequilibrium in labour and output markets is restated.The case for any kind of active financial policy rests on the presence of capital market imperfections (including incomplete contingent forward markets such as insurance markets), on the longevity of the institution of government and on the government's unique ability to tax. Finally, certain long-run aspects of the fiscal and monetary stance are analyzed. This includes their sustainability, i.e. the consistency of long-term spending and taxation plans with the monetary objectives and the crowding outtargets. The concepts of the comprehensive net worth of the public sector and its income are central to this analysis. The current U.K. position appears to be one of an unsustainable, permanent surplus." @default.
- W3150289326 created "2021-04-13" @default.
- W3150289326 creator A5002338111 @default.
- W3150289326 date "1983-01-01" @default.
- W3150289326 modified "2023-09-24" @default.
- W3150289326 title "The Theory of Optimum Deficits and Debt" @default.
- W3150289326 hasPublicationYear "1983" @default.
- W3150289326 type Work @default.
- W3150289326 sameAs 3150289326 @default.
- W3150289326 citedByCount "0" @default.
- W3150289326 crossrefType "posted-content" @default.
- W3150289326 hasAuthorship W3150289326A5002338111 @default.
- W3150289326 hasConcept C100243477 @default.
- W3150289326 hasConcept C10138342 @default.
- W3150289326 hasConcept C120527767 @default.
- W3150289326 hasConcept C139719470 @default.
- W3150289326 hasConcept C162324750 @default.
- W3150289326 hasConcept C17744445 @default.
- W3150289326 hasConcept C19244329 @default.
- W3150289326 hasConcept C199539241 @default.
- W3150289326 hasConcept C2776988154 @default.
- W3150289326 hasConcept C2778489760 @default.
- W3150289326 hasConcept C2779931205 @default.
- W3150289326 hasConcept C2781356325 @default.
- W3150289326 hasConcept C34447519 @default.
- W3150289326 hasConcept C52092804 @default.
- W3150289326 hasConcept C524878704 @default.
- W3150289326 hasConcept C556758197 @default.
- W3150289326 hasConcept C8031360 @default.
- W3150289326 hasConcept C94625758 @default.
- W3150289326 hasConceptScore W3150289326C100243477 @default.
- W3150289326 hasConceptScore W3150289326C10138342 @default.
- W3150289326 hasConceptScore W3150289326C120527767 @default.
- W3150289326 hasConceptScore W3150289326C139719470 @default.
- W3150289326 hasConceptScore W3150289326C162324750 @default.
- W3150289326 hasConceptScore W3150289326C17744445 @default.
- W3150289326 hasConceptScore W3150289326C19244329 @default.
- W3150289326 hasConceptScore W3150289326C199539241 @default.
- W3150289326 hasConceptScore W3150289326C2776988154 @default.
- W3150289326 hasConceptScore W3150289326C2778489760 @default.
- W3150289326 hasConceptScore W3150289326C2779931205 @default.
- W3150289326 hasConceptScore W3150289326C2781356325 @default.
- W3150289326 hasConceptScore W3150289326C34447519 @default.
- W3150289326 hasConceptScore W3150289326C52092804 @default.
- W3150289326 hasConceptScore W3150289326C524878704 @default.
- W3150289326 hasConceptScore W3150289326C556758197 @default.
- W3150289326 hasConceptScore W3150289326C8031360 @default.
- W3150289326 hasConceptScore W3150289326C94625758 @default.
- W3150289326 hasLocation W31502893261 @default.
- W3150289326 hasOpenAccess W3150289326 @default.
- W3150289326 hasPrimaryLocation W31502893261 @default.
- W3150289326 hasRelatedWork W1561877242 @default.
- W3150289326 hasRelatedWork W1589462687 @default.
- W3150289326 hasRelatedWork W1884482583 @default.
- W3150289326 hasRelatedWork W1973910590 @default.
- W3150289326 hasRelatedWork W2018074145 @default.
- W3150289326 hasRelatedWork W2066662975 @default.
- W3150289326 hasRelatedWork W2078614538 @default.
- W3150289326 hasRelatedWork W2145331734 @default.
- W3150289326 hasRelatedWork W2168148857 @default.
- W3150289326 hasRelatedWork W2171490958 @default.
- W3150289326 hasRelatedWork W2761060100 @default.
- W3150289326 hasRelatedWork W3021344429 @default.
- W3150289326 hasRelatedWork W3121616930 @default.
- W3150289326 hasRelatedWork W3123670694 @default.
- W3150289326 hasRelatedWork W3124284922 @default.
- W3150289326 hasRelatedWork W3124942997 @default.
- W3150289326 hasRelatedWork W3125257920 @default.
- W3150289326 hasRelatedWork W3125809858 @default.
- W3150289326 hasRelatedWork W3146049689 @default.
- W3150289326 hasRelatedWork W3149016006 @default.
- W3150289326 isParatext "false" @default.
- W3150289326 isRetracted "false" @default.
- W3150289326 magId "3150289326" @default.
- W3150289326 workType "article" @default.