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April 24, 2013

A fiscal Taylor rule

Publication

In most OECD countries, the financial crisis leads to a drop in GDP and has brought government finances into a state of disarray. As high public debt will slow down GDP growth, order in government finances must be restored, sooner or later.

April 15, 2013

Optimal fiscal policy

Publication

This paper derives and estimates rules for fiscal policy that prescribe the optimal response to changes in unemployment and debt.

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