Optimal Fiscal Policy without Commitment: Beyond Lucas-Stokey
NBER Working Paper No. 24522
---- Acknowledgments ----
We would like to thank Manuel Amador, Facundo Piguillem, Jesse Schreger, and seminar participants at Columbia, Federal Reserve Bank of Boston, University of Toronto, and the ASSA meetings for comments. George Vojta provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.