nach oben

Erschienen in:

2019 | OriginalPaper | Buchkapitel

1. Introduction

verfasst von : Burkhard Heer

Erschienen in: Public Economics

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

Public economics studies the problems of government expenditures and revenues. Almost all major graduate textbooks on this issue focus on an exclusively microeconomic presentation. Modern problems in public economics, however, are inherently macroeconomic in nature. Just consider what are arguably the most important problems facing modern industrialized countries: demographics, debt, and pensions. As a consequence, many textbooks on public economics are awfully shy about these pressing issues that were aggravated by the recent financial crisis.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Nächstes Kapitel Ramsey Model

In addition, the retirement age can be raised or the social security system can be subsidized by the government with the help of tax revenues.

In heterogeneous-agent extensions of the Ramsey model, in which households face credit market restrictions such as in Aiyagari (1994), Ricardian equivalence fails.

For the Ramsey model, see, for example, Ljungqvist and Sargent (2012). The OLG model is studied extensively in Blanchard and Fischer (1989) and de la Croix and Michel (2002).

Of course, there are also disadvantages of discrete-time models. Often, one has to make artificial assumptions about the timing of events, e.g., whether consumption takes place at the beginning or the end of the period, or if many events occur at the same point in time, in what order they take place, e.g., whether a shock is observed prior to or after the labor supply decision. In many cases, the results will be sensitive to the specification of the timing, and we will highlight this at the relevant points.

Most of the studies which were not based on a general-equilibrium model were empirical ones.

Fehr and Kindermann (2018) provide an introduction to computational economics using Fortran with an extensive treatment of OLG models and public policy.

Aiyagari, R. S. (1994). Uninsured idiosyncratic risk and aggregate saving. Quarterly Journal of Economics, 109, 659–684.CrossRef

Blanchard, O. J., & Fischer, S. (1989). Lectures on macroeconomics. Cambridge: MIT Press.

de la Croix, D., & Michel, P. (2002). A theory of economic growth: Dynamics and policy in overlapping generations. Cambridge: Cambridge University Press.CrossRef

Fehr, H., & Kindermann, F. (2018). Introduction to computational economics using Fortran. Oxford: Oxford University Press.

Heer, B., & Maußner, A. (2009). Dynamic general equilibrium modeling: Computational methods and applications (2nd ed.). Heidelberg; Springer.CrossRef

Ljungqvist, L., & Sargent, T. J. (2012). Recursive macroeconomic theory. Cambridge: MIT Press.

Miranda, M. J., & Fackler, P. L. (2002). Applied computational economics and finance. Cambridge: MIT Press.

Titel: Introduction
verfasst von: Burkhard Heer
Verlag: Springer International Publishing
Buch: Public Economics
Print ISBN: 978-3-030-00987-8

Electronic ISBN: 978-3-030-00989-2

Copyright-Jahr: 2019
DOI: https://doi.org/10.1007/978-3-030-00989-2_1