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# Dynamic Programming Squared¶

Here we look at models in which a value function for one Bellman equation has as an argument the value function for another Bellman equation

## Lectures¶

- Stackelberg Plans
- Ramsey plans, Time Inconsistency, Sustainable Plans
- Overview
- The Model
- Structure
- Intertemporal Influences
- Four Models of Government Policy
- A Ramsey Planner
- A Constrained-to-a-Constant-$ \mu $ Ramsey Government
- Markov Perfect Governments
- Equilibrium Outcomes for Three Models of Government Policy Making
- A Fourth Model of Government Decision Making
- Sustainable or Credible plan
- Comparison of Equilibrium Values
- Note on Dynamic Programming Squared

- Optimal Taxation in an LQ Economy
- Optimal Taxation with State-Contingent Debt
- Optimal Taxation without State-Contingent Debt
- Fluctuating Interest Rates Deliver Fiscal Insurance
- Fiscal Risk and Government Debt
- Competitive Equilibria of Chang Model
- Credible Government Policies in Chang Model