Optimal government bond finance

Control theory is used to analyze optimal bond and tax finance, where welfare costs of taxation increase with increases in the tax rate, interest rates increase with increases in the ratio of bonds outstanding to wealth, and the government's objective is to minimize the present value of total w...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Journal of macroeconomics 1988-04, Vol.10 (2), p.217-229
Hauptverfasser:	Beare, John B., Thakkar, Rasesh B.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bonds Control theory Economic models Economic theory Finance Government securities Government spending Tax rates Taxation
Online-Zugang:	Volltext
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