Financial Policy

Niepelt, Dirk (21 March 2018). Financial Policy (Discussion Papers 18-02). Bern: Department of Economics

[img]
Preview
Text
dp1802.pdf - Published Version
Available under License Creative Commons: Attribution (CC-BY).

Download (591kB) | Preview

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

Series:

Discussion Papers

Publisher:

Department of Economics

Language:

English

Submitter:

Lars Tschannen

Date Deposited:

31 Aug 2020 16:12

Last Modified:

31 Aug 2020 16:12

BORIS DOI:

10.7892/boris.145851

URI:

https://boris.unibe.ch/id/eprint/145851

Actions (login required)

Edit item Edit item
Provide Feedback