Government Debt and Aggregate Stability with Endogenous Growth: Some General Results
نویسندگان
چکیده
منابع مشابه
Government debt and aggregate stability with endogenous growth: Some general results
We consider a general class of endogenous growth models with infinitely lived households and analyze how different budgetary rules affect the stability of the economy. We show that a discretionary fiscal policy implies that the government always violates its inter-temporal budget constraint along a balanced growth path, whereas a balanced budget rule tends to stabilize the economy. A rule based...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2403872