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1996 | OriginalPaper | Chapter

Anticipation and the Time-Consistency of Fiscal Policy

Author : Dr. Günther Lang

Published in: On Overlapping Generations Models with Productive Capital

Publisher: Springer Berlin Heidelberg

Included in: Professional Book Archive

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This chapter is devoted to the analysis of fiscal policy with welfare functions which are usually not used by utilitarists for the planning of intergenerational allocations. Typical welfare functions which can be found in the literature stem from the pioneering work by Bentham and Sidgewick1, being formalized by Ramsey (1928) for the framework of a growth model in his famous article ‘A Mathematical Theory of Saving.’

previous chapter Just Resource Sharing Among Generations: Equity, Efficiency and Optimal Population
Metadata
Title
Anticipation and the Time-Consistency of Fiscal Policy
Author
Dr. Günther Lang
Copyright Year
1996
Publisher
Springer Berlin Heidelberg
Book
On Overlapping Generations Models with Productive Capital

Print ISBN: 978-3-540-61603-0

Electronic ISBN: 978-3-642-48152-9

Copyright Year: 1996

DOI
https://doi.org/10.1007/978-3-642-48152-9_5

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