Financial Policy

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:

Raphael Gajendra Wewita Widanelage Don

Date Deposited:

07 Oct 2019 11:24

Last Modified:

04 Nov 2019 18:08

BORIS DOI:

10.7892/boris.129923

URI:

https://boris.unibe.ch/id/eprint/129923

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