Future Fiscal and Budgetary Shocks
We study the effects of future tax and budgetary shocks in a non-monetary and possibly non-Ricardian economy. An (unanticipated) temporary labor tax cut to be effective on a given future date—a delayed “debt bomb”—causes at once a drop in the (unit) value placed on the firms' business asset, th...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2008
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/73 https://ink.library.smu.edu.sg/context/soe_research/article/1072/viewcontent/FutureFiscal.pdf |
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| Institution: | Singapore Management University |
| Language: | English |