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Consider the two period intertemporal budget constraint for the gover.pdf

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Consider the two period intertemporal budget constraint for the government: G1+1+iC2+(1+i)B1=T1+1+iT2. Furthermore, assume the interest rate is i=5%. (a) Suppose the government cuts taxes today by $100 billion. Describe three possible ways the government can change spending and taxes to satisfy its budget constraint. [Note: assume they cannot change borrowing] (b) Which of the three is the "best" policy to pursue, assuming cutting taxes today "must" happen? Why is this the best policy?.

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Consider the two period intertemporal budget constraint for the government: G1+1+iC2+(1+i)B1=T1+1+iT2. Furthermore, assume the interest rate is i=5%. (a) Suppose the government cuts taxes today by $100 billion. Describe three possible ways the government can change spending and taxes to satisfy its budget constraint. [Note: assume they cannot change borrowing] (b) Which of the three is the "best" policy to pursue, assuming cutting taxes today "must" happen? Why is this the best policy?

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  • 1. Consider the two period intertemporal budget constraint for the government: G1+1+iC2+(1+i)B1=T1+1+iT2. Furthermore, assume the interest rate is i=5%. (a) Suppose the government cuts taxes today by $100 billion. Describe three possible ways the government can change spending and taxes to satisfy its budget constraint. [Note: assume they cannot change borrowing] (b) Which of the three is the "best" policy to pursue, assuming cutting taxes today "must" happen? Why is this the best policy?