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Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook x Information, Knowledge, and Uncertainy x clear all

Efficient Allocations in Dynamic Private Information Economies with Persistent Shocks: A First-Order Approach

Marek Kapička.

in The Review of Economic Studies

July 2013; p ublished online January 2013 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 11390 words.

This article studies efficient allocations in a dynamic private information economy with a continuum of idiosyncratic shocks that are persistent. I develop a first-order approach for this...

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Non-linear Capital Taxation Without Commitment

Emmanuel Farhi, Christopher Sleet, Iván Werning and Sevin Yeltekin.

in The Review of Economic Studies

October 2012; p ublished online January 2012 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Analysis of Collective Decision-making; Taxation, Subsidies, and Revenue. 11038 words.

We study efficient non-linear taxation of labour and capital in a dynamic Mirrleesian model incorporating political economy constraints. Policies are chosen sequentially over time, without...

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The oil trading markets, 2003–10: analysis of market behaviour and possible policy responses

Adair Turner, Jon Farrimond and Jonathan Hill.

in Oxford Review of Economic Policy

January 2011; p ublished online January 2011 .

Journal Article. Subjects: Economics; Prices, Business Fluctuations, and Cycles; Economic History; Energy Economics; General Equilibrium and Disequilibrium; Market Structure and Pricing; Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook. 14356 words.

This paper considers price movements in the oil markets between 2003 and 2010 and seeks to explain the significant trends in this period. It notes that the oil market is by its very nature...

Optimal Fiscal Policy with Recursive Preferences

Anastasios G Karantounias.

in The Review of Economic Studies

October 2018; p ublished online January 2018 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue; National Budget, Deficit, and Debt. 16892 words.

Abstract

I study the implications of recursive utility, a popular preference specification in macro-finance, for the design of optimal fiscal policy. Standard...

Optimal Taxation with Private Government Information

Christopher Sleet.

in The Review of Economic Studies

October 2004; p ublished online October 2004 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue. 10743 words.

The Ramsey model of fiscal policy implies that taxes should be smooth in the sense of having small variances. In contrast, empirical labour tax processes are smooth in the sense of being...

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Optimal Taxation with Rent-Seeking

Casey Rothschild and Florian Scheuer.

in The Review of Economic Studies

July 2016; p ublished online March 2016 .

Journal Article. Subjects: Microeconomics; General Equilibrium and Disequilibrium; Welfare Economics; Information, Knowledge, and Uncertainy; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Taxation, Subsidies, and Revenue; Demand and Supply of Labour; Wages, Compensation, and Labour Costs. 17279 words.

We develop a framework for optimal taxation when agents can earn their income both in traditional activities, where private and social products coincide, and in rent-seeking activities,...

Policy Uncertainty and Corporate Investment

Huseyin Gulen and Mihai Ion.

in The Review of Financial Studies

March 2016; p ublished online September 2015 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Financial Regulation; Corporate Governance; Corporate Regulation. 17098 words.

Using a news-based index of policy uncertainty, we document a strong negative relationship between firm-level capital investment and the aggregate level of uncertainty associated with...