Niepelt, Dirk (February 2018). Financial Policy (Discussion paper series DP12755). London: Centre for Economic Policy Research (CEPR)
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This paper reviews theoretical results on financial policy. We use basic accounting identities to
illustrate relations between gross assets and liabilities, net debt positions and the appropriation of (primary) budget surplus funds. We then discuss Ramsey policies, answering the question how a committed government may use financial instruments to pursue its objectives. Finally, we discuss additional roles for financial policy that arise as a consequence of political frictions, in particular lack of commitment.
Item Type: |
Working Paper |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Niepelt, Dirk |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0265-8003 |
Series: |
Discussion paper series |
Publisher: |
Centre for Economic Policy Research (CEPR) |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
07 Oct 2019 11:24 |
Last Modified: |
31 Oct 2023 08:28 |
BORIS DOI: |
10.7892/boris.129923 |
URI: |
https://boris.unibe.ch/id/eprint/129923 |
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