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Federal Reserve Bank of Cleveland
Economic Review
Tax structure, optimal fiscal policy, and the business cycle
Jang-Ting Guo
Kevin J. Lansing

The development of a real business cycle model in which government fiscal variables such as tax rates and public expenditures are endogenous. The authors characterize the "optimal" behavior of these policy variables over the business cycle and relate this behavior to movements in private-sector variables like output, consumption, labor hours, and investment.

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Jang-Ting Guo & Kevin J. Lansing, "Tax structure, optimal fiscal policy, and the business cycle" , Federal Reserve Bank of Cleveland, Economic Review, issue Q IV, pages 2-14, 1994.
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