The study looks at how a government can make the best choices about taxes and debt over time to maximize people's well-being. They found that in economies with incomplete markets, the long-term plan for taxes and debt doesn't depend on where you start. This means the government can figure out the best long-term plan without worrying about how they get there. Specifically, they found that labor taxes go up, capital taxes go down, and government debt goes up to reach a stable level.