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Uncertain Fiscal Consolidations. (2012). Leith, Campbell ; Leeper, Eric ; Bi, Huixin.
In: SIRE Discussion Papers.
RePEc:edn:sirdps:312.

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  1. The cost of uncertainty about the timing of Social Security reform. (2019). Slavov, Sita ; Gorry, Aspen ; Caliendo, Frank N.
    In: European Economic Review.
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  2. The role of actor-networks in the early stage mobilisation of low carbon heat networks. (2016). Ambrose, Aimee ; Pinder, James ; Eadson, Will .
    In: Energy Policy.
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  3. Neoliberalism, trade imbalances, and economic policy in the Eurozone crisis [Neoliberalism, trade imbalances, and economic policy in the Eurozone crisis]. (2015). Stockhammer, Engelbert ; Reissl, Severin ; Constantine, Collin.
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  4. Optimal fiscal and monetary policy action in a closed economy. (2015). Varthalitis, Petros ; Vassilatos, Vanghelis ; Philippopoulos, Apostolis.
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  5. Fiscal Adjustment in Slovakia: Findings from a Medium-Scale Econometric Model. (2015). Klucik, Miroslav.
    In: Working Papers.
    RePEc:cbe:wpaper:201501.

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  6. Sovereign Risk and Monetary Policy. (2014). Sokolova, Anna.
    In: Journal of the New Economic Association.
    RePEc:nea:journl:y:2014:i:21:p:56-82.

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  7. When are the Effects of Fiscal Policy Uncertainty Large?. (2014). Johannsen, Benjamin K..
    In: Finance and Economics Discussion Series.
    RePEc:fip:fedgfe:2014-40.

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References

References cited by this document

  1. (1997): “The Welfare State and Competitiveness,” American Economic Review, 87(5), 921–939.
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  10. Bi, H. (2011): “Sovereign Default Risk Premia, Fiscal Limits and Fiscal Policy,” European Economic Review, forthcoming.

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  12. Coleman, Wilbur John, I. (1991): “Equilibrium in a Production Economy with an Income Tax,” Econometrica, 59(4), 1091–1104.

  13. Davig, T. (2004): “Regime-Switching Debt and Taxation,” Journal of Monetary Economics, 51(4), 837–859.

  14. Giavazzi, F., and M. Pagano (1990): “Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries,” NBER Macroeconomics Annual, 5, 75–111.

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  19. Sutherland, A. (1997): “Fiscal Crises and Aggregate Demand: Can High Public Debt Reverse the Effects of Fiscal Policy?,” Journal of Public Economics, 65(2), 147–162.

  20. Taylor, J. B. (1993): “Discretion versus Policy Rules in Practice,” Carneige-Rochester Conference Series on Public Policy, 39(1), 195–214. A Simulating the Fiscal Limit Assume the utility function is u(ct, nt) = log ct + χN log(1 − nt). Assuming the inflation rate is its steady-state level, labor supply can be solved analytically as a function of (τt, At, gt) using the first-order conditions. nt = wt(1 − τt) + χngt wt(1 − τt) + χnAt (A.1) where wt = (θ − 1)/θAt. The total tax revenue is Tt = (wtnt + Υt) τt, and the peak of Laffer curve, τmax t , can be solved as, τmax (At, gt) = 1 + χn At wt − p

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