Indeterminacy and stabilization policy

Jang-Ting Guo and Kevin Lansing

No 9708, Working Papers (Old Series) from Federal Reserve Bank of Cleveland

Abstract: A demonstration of how an income tax schedule that exhibits a progressivity feature can ensure saddle-path stability in a one-sector, real business-cycle model with sufficient increasing returns in production, thereby shielding the economy against sunspot fluctuations.

Keywords: Economic stabilization; Business cycles (search for similar items in EconPapers)
Date: 1997
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Related works:
Journal Article: Indeterminacy and Stabilization Policy (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcwp:9708

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