Debt and Taxes in War and Peace: The Closed Economy Case

J. S. Flemming
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J. S. Flemming: Bank of England

Chapter 7 in The Economics of Public Debt, 1988, pp 201-229 from Palgrave Macmillan

Abstract: Abstract This paper examines the role of budget deficits and surpluses in smoothing tax rates in stochastic world. A previous paper considered this problem in the case of an open economy in which factor prices were given by trade or capital mobility (Flemming, 1987). The earlier treatment is summarised in Section 2 below.

Keywords: Public Good; Labour Supply; Public Expenditure; Private Consumption; Small Open Economy (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-19459-9_7

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DOI: 10.1007/978-1-349-19459-9_7

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