Browsing Department of Economics (ECO) by Subject "Ramsey equilibrium"

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Browsing Department of Economics (ECO) by Subject "Ramsey equilibrium"

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    Title: Recursive Contracts  Author(s): MARCET, Albert; MARIMON, Ramon Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization sup problems non-recursive. Our approach consists of ...
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    Title: Optimal Taxation and Constrained Inefficiency in an Infinite-Horizon Economy with Incomplete Markets  Author(s): GOTTARDI, Piero; KAJII, Atsushi; NAKAJIMA, Tomoyuki Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We study the dynamic Ramsey problem of finding optimal public debt and linear taxes on capital and labor income within a tractable infinite horizon model with incomplete markets. With zero public expenditure and debt, it ...
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    Title: Recursive Contracts  Author(s): MARCET, Albert; MARIMON, Ramon Date: 2011 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization sup problems non-recursive. Our approach consists of ...