Corrigendum to “Fiscal rules and countercyclical policy: Frank Ramsey meets Gramm–Rudman–Hollings” [J. Policy Model. 26 (2004) 719–731]

Journal of Policy Modeling 27 (2005) 263

Corrigendum

Corrigendum to “Fiscal rules and countercyclical policy: Frank Ramsey meets Gramm–Rudman–Hollings” [J. Policy Model. 26 (2004) 719–731]夽 Evan Tanner ∗ IMF Institute, Western Hemisphere Division, 700 19th Street NW, Washington, DC 20431, USA Available online 29 January 2005

The author regrets that in the above article, the following equations appeared incorrectly: Eqs. (R0) and (9) on p. 725; (R1) and (10) on p. 726. These equations are now reproduced correctly below:
 r−λ τ(0) = γ + bP (R0) 1+λ
ps(0)t = γ[1 − wt ] +
τ(1)t = γ +

r − λ∗t 1 + λ∗t

 r−λ bP 1+λ

(9)

 bt−1


ps(1)t = γ[1 − wt ] +

r − λ∗t 1 + λ∗t

(R1)  bt−1

(10)

DOI of original article:10.1016/j.jpolmod.2004.04.015

夽 The views expressed in this paper are those of the author(s) and do not necessarily represent those of the IMF

or IMF policy. ∗ Tel.: +1 202 623 8608; fax: +1 202 623 6070. E-mail address: [email protected]. 0161-8938/$ – see front matter © 2004 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved. doi:10.1016/j.jpolmod.2005.01.006