Fiscal rules and discreton under limited enforcement by Marina Halac and Pierre Yared published by NBER (1/2019). “We study a fiscal policy model in which the government is present-biased towards public spending. Society chooses a fiscal rule to trade…
Rising government debt and what to do about it by Pierre Yared published by NBER (8/2018). “Over the past four decades, government debt as a fraction of GDP has been on an upward trajectory in advanced economies, approaching levels…
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