NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Optimal Fiscal Policy without Commitment: Beyond Lucas-Stokey

Davide Debortoli, Ricardo Nunes, Pierre Yared

NBER Working Paper No. 24522
Issued in April 2018, Revised in February 2019

---- 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.

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