English, Article, Journal or magazine article edition: Should Fiscal Policy Be Di.erent in a Non-Competitive Framework? Arantza Gorostiaga

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Bookmark: http://trove.nla.gov.au/version/160737
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Should Fiscal Policy Be Di.erent in a Non-Competitive Framework?
Author
  • Arantza Gorostiaga
Physical Description
  • preprint
Notes
  • This paper studies if imperfections in the labor market justify a diferent fiscal policy. We present a dynamic general equilibrium model with a Ramsey planner deciding about public spending, labor taxes and debt. Two diferent labor market setups are considered. First we assume a competitive labor market and then we introduce a union with monopoly power. Both models reach the same conclusion as regards the cyclical properties of the optimal policy: it is not optimal to implement a countercyclical fiscal policy. We also find that government spending should be larger under perfect competition. These main results arise both under complete and incomplete markets for the debt.
  • Ramsey problem, labor market imperfections, incomplete markets
  • RePEc:cea:doctra:e2002_11
Language
  • English
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