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"A Fiscal Policy Rule for Stabilization," February 1999, unpublished.

Paper: pdf file

A tax rate rule for stabilization purposes is proposed in this paper. Stochastic simulation results suggest that this rule would be a considerable help to monetary policy in its stabilization effort.


The multiplier results in this paper can be duplicated on this site. Chapter 2 of The MC2 Model Workbook explains how to do this--Chapter 2, MC2 Workbook.

The tax rate rule is used for some of the results in 2001#5.