Policy Implications of Dynamic Public Finance
综述了过去十年动态公共财政领域的研究进展，分析了社会保险和最优税收设计中的关键权衡，并说明最优政策如何依赖于数据中可估计的参数。
The dynamic public finance literature underwent significant changes over the past decade. This research agenda has now reached a stage at which it is able to analyze the design of social insurance programs and optimal taxation in rich environments that can be closely matched to microeconomic data. We provide an overview of the recent advances in this literature, discuss the key trade-offs, and explain how the prescriptions for the optimal policy depend on the specific parameters that can be estimated in the data. We also describe the relationship between the dynamic mechanism design approach to optimal taxation and the approach that considers sophisticated tax functions chosen within parametrically restricted classes.