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If you have any questions, you are always welcome to contact us. We'll get back to you as soon as possible, withing 24 hours on weekdays.
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All questions about your order, return and delivery must be sent to our customer service team by e-mail at yourstore@yourdomain.com
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This research aims to answer several issues on the global transmission effects of the government fiscal policy. How does the difference in time preferences of individuals affect economic variables in an open economy? How is the government debt or budget deficit of a country transmitted to other countries? Which tax scheme is the best for capital accumulation and welfare of countries? Wage income tax? Capital income tax? Consumption tax? In order to address the issues, this research builds a two country overlappinggenerations (OLG) model in which there exist different time preferences, different fiscal policies, and different tax schemes between countries. In particular, the model adopt a utility function with a constant intertemporal elasticity of substitution, in which saving positively depends on both labor income and the interest rate.
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