%A Patrick Fève
%A Julien Matheron
%A Jean-Guillaume Sahuc
%J Revue économique
%T Règles Budgétaires Strictes et Stabilité Macro-économique: le cas de la TVA Sociale
%X 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.
%N n°3
%P 543-556
%V 65
%D 2014
%I Presses de Sciences Po
%R 10.3917/reco.653.0543
%L publications15470