@article{publications15470,
          volume = {65},
          number = {n?3},
           month = {May},
          author = {Patrick F{\`e}ve and Julien Matheron and Jean-Guillaume Sahuc},
           title = {R{\`e}gles Budg{\'e}taires Strictes et Stabilit{\'e} Macro-{\'e}conomique: le cas de la TVA Sociale},
       publisher = {Presses de Sciences Po},
            year = {2014},
         journal = {Revue {\'e}conomique},
           pages = {543--556},
             url = {https://publications.ut-capitole.fr/id/eprint/15470/},
        abstract = {This paper studies the local dynamic properties of a simple general equilibrium model with Social vat. Strict balanced budget rules often lead to real indeterminacy of aggregate equilibrium, leaving room for ? sunspots ? fluctuations. In a closed-economy setup, social vat escapes this property and only reduces the aggregate labor supply elasticity. However, the quantitative effects are weak.}
}