Niepelt, Dirk (21 March 2018). Financial Policy (Discussion Papers 18-02). Bern: Department of Economics
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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 |
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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 |
Series: |
Discussion Papers |
Publisher: |
Department of Economics |
Language: |
English |
Submitter: |
Lars Tschannen |
Date Deposited: |
31 Aug 2020 16:12 |
Last Modified: |
05 Dec 2022 15:40 |
BORIS DOI: |
10.7892/boris.145851 |
URI: |
https://boris.unibe.ch/id/eprint/145851 |
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