Uploaded January 2021 | Updated September 2026, 3 weeks ago
In this video we discuss the idea of how governments choose deficits optimally through a practice of tax smoothing. practically speaking this is a scenario where governments aim to tax in such a way which minimize present value cost of distortions subject to a collected tax revenues and a deterministic path of government spending.
In this video we discuss the idea of how governments choose deficits optimally through a practice of tax smoothing. practically speaking this is a scenario where governments aim to tax in such a way which minimize present value cost of distortions subject to a collected tax revenues and a deterministic path of government spending.
