THEORIES AND MODELS OF FISCAL POLICY

Within the paper “Theories and models of fiscal policy” we made a presentation of the main fiscal theories elaborated by the renowned representatives of the Physiocratic School, of the classic English School and last, but not least, the neoclassic approach of the aforementioned in the vision of Frank Ramsey and Arthur Laffer. The purpose of the paper is to highlight which was the contribution of the fiscal theories and models formulated by scholars and to what extent they contributed to developing the economic society or to improving the quality of the research activities suitable to the field.