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Optimal Fiscal Policy with Rationing in the Labor Market
Gorostiaga Alonso, Miren Arantzazu
(University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper characterizes the optimal fiscal policy when it is assumed that there exists a minimum wage below which no worker can be hired. The rigidity due to the minimum wage legislation can lead to equilibria in which ... -
Should Fiscal Policy be different in a Non-Competitive Framework?
Gorostiaga Alonso, Miren Arantzazu (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper studies if imperfections in the labor market justify a different fiscal policy. We present a dynamic general equilibrium model with a Ramsey planner deciding about public spending, labor taxes and debt. Two ... -
Explosive Hyperinflation, Inflation Tax Laffer Curve and Modelling the use of Money
Gutiérrez Huerta, María José; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the existence of an inflation tax Laffer curve (ITLC) in the context of two standard optimizing monetary models: a cash-in-advance model and a money in the utility function model. Agents’ preferences ... -
Cyclical Features of Uzawa-Lucas Endogenous Growth Model
Restrepo Ochoa, Sergio I.; Vázquez Pérez, Jesús (University of the Basque Country, Department of Foundations of Economic Analysis II, 2002-07)
This paper analyzes the cyclical properties of a generalized version of Uzawa-Lucas endogenous growth model. We study the dynamic features of different cyclical components of this model characterized by a variety of ...