Debt servicing, aggregate consumption, and growth
نویسندگان
چکیده
منابع مشابه
Household Debt and Aggregate Consumption Expenditures
This paper shows that the debt burden of households, as measured by the debt service to income ratio, is helpful in forecasting the future growth of consumption expenditures. Using data for the United States over the period 1960-97, I find a significant negative relationship between the debt-service ratio of households and future aggregate spending growth. This effect is statistically important...
متن کاملThe Debt Servicing Capacity Of
This study examines the interaction between external debt and economic growth, and analyses the sustainability of Nigerias foreign debt. Given the several reschedulings and persistent accumulation of the debt arrears, and consistently high debt burden ratios, it is doubtful if the debt burden can be judged as sustainable. This study employed analytical method and the findings from the analysis...
متن کاملPublic debt and aggregate stability with endogenous growth and a state-dependent consumption tax
We analyze how different budgetary rules affect the stability of an economy in a basic endogenous growth model with public debt and a state-dependent consumption tax rate. We show that a discretionary policy implies that the government violates its inter-temporal budget constraint along a balanced growth path, whereas a balanced budget rule guarantees that the economy is stable. A rule based de...
متن کاملDebt Servicing Costs and Capital Structure
In contrast to the standard capital structure theory prediction that builds on a trade-o¤ between interest tax shields and expected bankruptcy costs, public rms use debt quite conservatively. To address this well known debt conservatism puzzle (Graham 2000), I argue that servicing debt drains valuable liquidity for a nancially constrained rm and hence endogenously creates debt servicing cos...
متن کاملTaxation, redistribution, and debt with aggregate shocks
We study optimal income taxes and transfers in an economy with heterogeneous agents and aggregate shocks. An optimal equilibrium determines agents’ net asset positions, but not their absolute levels. The distribution of debt holdings across agents influences optimal allocations and taxes, but the level of government debt does not. Higher correlations of debt holdings and labor incomes imply mor...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Structural Change and Economic Dynamics
سال: 2016
ISSN: 0954-349X
DOI: 10.1016/j.strueco.2015.10.002