US Fiscal policy during and after the coronavirus
研究评估了美国应对疫情后债务增加的几种财政方案，发现提高资本所得税最不利于福利，而容忍更高债务虽有益但需大幅紧缩。
COVID-related government outlays will increase the level of government debt. A macroeconomic model, calibrated to the US, quantitatively assesses potential responses to this higher debt. In terms of economic welfare, reducing debt through capital incomes tax hikes is the least desirable option considered: the associated tax base is small, and anticipating such a tax increase reduces capital accumulation. There is little to choose between fiscal austerity through government spending cuts versus raising labour income tax rates. Accommodating higher government debt is welfare-improving but still requires substantial fiscal austerity owing to higher debt servicing costs.