Fiscal Policy and Aggregate Uncertainty

Jagadeesh Gokhale and Laurence J. Kotlikoff
Authors registered in the RePEc Author Service: Laurence Kotlikoff ()

No 275, Computing in Economics and Finance 2001 from Society for Computational Economics

Abstract: This paper develops and simulates a three-period life-cycle model with aggregate uncertainty. The model incudes a market in risk-free bonds. The paper studies how uncertainty in fiscal policy affects welfare, the equity premium, risk-sharing, and the caculation of generational accounts.

Keywords: fiscal policy; uncertainty (search for similar items in EconPapers)
JEL-codes: H4 (search for similar items in EconPapers)
Date: 2001-04-01

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Persistent link: http://EconPapers.repec.org/RePEc:sce:scecf1:275

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