Premium
Financial Control of a Competitive Economy with Public Goods but Without Randomness
Author(s) -
KARATZAS IOANNIS,
SHUBIK MARTIN,
SUDDERTH WILLIAM D.
Publication year - 2011
Publication title -
journal of public economic theory
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.809
H-Index - 32
eISSN - 1467-9779
pISSN - 1097-3923
DOI - 10.1111/j.1467-9779.2011.01511.x
Subject(s) - economics , bureaucracy , randomness , public good , government (linguistics) , control (management) , simple (philosophy) , microeconomics , financial market , fiscal policy , competitive equilibrium , monetary economics , market economy , finance , politics , linguistics , statistics , philosophy , mathematics , management , epistemology , political science , law
The monetary and fiscal control of a simple economy without outside randomness is studied here from the microeconomic basis of a strategic market game. The government’s bureaucracy is treated as a public good that provides services at a cost. A conventional public good is also considered.