On the sustainability of government borrowing in a dynamic general equilibrium
Pacific Economic Review Volume 12 Issue 5
Page 565-576
published_at 2007-12
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| File | |
| Title ( eng ) |
On the sustainability of government borrowing in a dynamic general equilibrium
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| Creator |
Kondo Atsumasa
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| Source Title |
Pacific Economic Review
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| Volume | 12 |
| Issue | 5 |
| Start Page | 565 |
| End Page | 576 |
| Abstract |
This paper constructs a dynamic general equilibrium model with money in consumers' utility functions and investigates the equilibrium dynamics of government's debt. The limitation level of the government borrowing for which a dynamic equilibrium and the no Ponzi Game condition are compatible with each other is explicitly derived. The critical level depends on the long-run interest rate, primary balance, money supply etc.
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| NDC |
Economics [ 330 ]
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| Language |
eng
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| Resource Type | journal article |
| Publisher |
Blackwell Publishing
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| Date of Issued | 2007-12 |
| Rights |
Copyright(c) 2007 Blackwell Publishing
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| Publish Type | Author’s Original |
| Access Rights | open access |
| Source Identifier |
The definite version is avairable at www.blackwell-synergy.com
[ISSN] 1361-374X
[DOI] 10.1111/j.1468-0106.2007.00372.x
[NCID] AA11246777
[DOI] http://dx.doi.org/10.1111/j.1468-0106.2007.00372.x
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