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Separability and public finance

Published on 4 November 2008

In a second best environment, the optimal policy choice sometimes follows the first best rules.

<p><p>In a second best environment, the optimal policy choice sometimes follows the first best rules. This note lays down the information structure and separability assumptions under which this property holds in a variety of setups.</p></p>

Authors

Guy Laroque

Stephane Gauthier

Stéphane Gauthier

Research Associate University of Paris 1 Pantheon-Sorbonne and Paris School of Economics

Stéphane is a Research Associate at our Institute and a Professor of Economics at University of Paris 1 Panthéon-Sorbonne.