The purpose of this paper is to show, using a simple two-periods overlapping generations (OLG) model in which goods are produced solely by labor monopolistically competitive industry, that continuous budget deficit necessary maintain full-employment under economic growth driven autonomous technological progress. Since the must be continuous, it should financed seigniorage not public debt. Also ...

Free AccessImportant Keywordshttps://doi.org/10.14220/9783737013444.259SectionsPDF/EPUB ToolsAdd to favoritesDownload CitationsTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail About Previous chapter Next FiguresReferencesRelatedDetails Download book coverOsnabrücker Studien zur Jüdischen und Christlichen Bibel.Volume 8 1st editionISBN: 978-3-8471-1344-7 eISBN: 978-3-7370-1344-4Hi...

The result of Benhabib, Schmitt-Grohé, and Uribe (2001) is powerful because it relies only on three rather natural conditions: the Fisher equation, the convex Taylor rule, and the lower bound of the nominal interest rate. Their result is striking because the paper reveals the peril of the active Taylor rule, which has been shown to implement the target in a stable manner under various condition...

The paper suggests a staffing tool to improve efficiency at a nursing department of a local hospital. The managers consider they are understaffed and try to overwhelm the staffing deficit problem through overtime, rather than hiring additional nurses. The estimates indicate that the shortage at the hospital level corresponds to 300 full time equivalent (FTE) nurses. However, the huge amount of ...

The purpose of this study is to contribute further on the twin deficits debate in a developing economy. The data for Malaysia over four decades is used as a case study. Empirical result obtained from the Johansen-Juselius (1990) cointegration test indicates that budget deficit and current account deficit do not contain common stochastic trend in the long run. However, the findings from the Gran...

This paper develops an analysis of budget deficit financing in termsof a crowding out or crowding in effect on the activity of the privatesector for the economies of Iran and Algeria as two MENA countries,(because of its economic structures (dependence on oil revenue)) duringthe period 1970-2012 by using Cointegration and Vector ErrorCorrection approaches. The analysis confirms the existence of...

There appears to be a renewed emphasis in Washington on reducing the federal budget deficit. Although the US economy is improving, it appears that the only way to make real progress in reducing the deficit is to reduce government expenditures. The desire to reduce the deficit, coupled with the President’s agenda that includes several controversial and potentially costly items, has many in Washi...