Fru Vikatmaa 9.12.1974 Åbo

Kirje

Optimal taxation without state-contingent debt

To recover a version of Barro's (1979) `random walk'tax smoothing outcome, we modify Lucas and Stokey's (1983) economyto permit only risk--free debt. This imparts near unit root like behaviorto government debt, independently of the government expenditureprocess, a realistic outcome in the spirit of Barro's. We showhow the risk--free--debt--only economy confronts the Ramsey plannerwith additional constraints on equilibrium allocations thattake the form of a sequence of measurability conditions.We solve the Ramsey problem by formulating it in terms of a Lagrangian,and applying a Parameterized Expectations Algorithm tothe associated first--order conditions. The first--order conditions andnumerical impulse response functions partially affirmBarro's random walk outcome. Though the behaviors oftax rates, government surpluses, and government debts differ, allocationsare very close for computed Ramsey policies across incomplete and completemarkets economies.

Professori Jan-Magnus Jansson 26/5 1970

Kirje 26.5.1970

Professor Jan-Magnus Jansson 26.5.1970

Kirje

Ketä korkeakoulukenttä hylkii? Opintojen keskeyttäminen akateemisen koulutushierarkian eri tasoilla

Summary: Who are rejected by the field of higher education? Dropout at different levels of the academic hierarchy of education

Laadullisen tutkimuksen kurjuus opiskelijoiden kertomana

Summary: Misery of qualitative research as told by students

Helsingin äitikirkko

Pentti Lempiäinen

'Itävallan vallankumous' : Otto Bauerin demokratia-käsitys 1907-1923

Juha Hannikainen