We study public debt in competitive equilibria in which a government chooses transfers and taxes optimally and in addition decides how thoroughly to enforce debt contracts. If the government enforces perfectly, asset inequality is determined in an optimum competitive equilibrium but the level of ...
Also found in: Thesaurus, Legal, Financial. public debt n 1. (Economics) the total financial obligations incurred by all governmental bodies of a nation 2. (Economics) another name for national debt Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins ...
The other test that is being conducted is a Vector Error Correction Model which shows that public debt is negatively correlated with short run and long run economic growth.Proceedings of the Faculty of Economics in East Sarajevo / Zbornik Radova Ekonomskog Fakulteta u Istonom...
inefficient public systems must re-engineer and restructure the decision making process in the public sector before they become members of an economic union... E Oltheten,T Sougiannis,N Travlos,... - 《Quarterly Review of Economics & Finance》 被引量: 20发表: 2013年 A New Phase in Czech...
Greiner (2013) "On the relation between public debt and economic growth: An empirical investigation" Bielefeld Working Papers in Economics & Man- agement ... B Fincke,A Greiner - 《Economics & Business Letters》 被引量: 5发表: 2016年 加载更多研究点推荐 PUBLIC DEBT ECONOMIC GROWTH NEXUS ...
However, economic research has not conclusively answered why the excessive increase in public debt is so rarely challenged by citizens and politicians despite the resulting budgetary burden. The answer to this question lies to some degree in economic psychology and the findings of behavioural economics...
Evolution of public debt can be linked with the basic premises of economics that human needs and wants are unlimited whereas the ways and means to accomplish these needs and wants are limited. Ever since the origin of the state its role has been increasing though the nature and types of invo...
The debt-to-GDP ratio negatively predicts cumulative nominal consumption growth up to a 10-year horizon, resulting from the ratio's ability to forecast lower inflation and real growth. Moreover, the debt-to-GDP ratio is positively associated with yield spreads. I rationalize these facts in a ...
The model analyzes the Sargent-Wallace (1981) problem: recurring deficits may lead the government to default on part of its public debt. The setting in Chang (1998) is an economy with money and transfers only, and implies that the need for government financing through inflation tax is minimal...
Public debt indexation and denomination: the case of Brazil The paper models the optimal debt management strategy of the public sector when issuing nominal, price-level-indexed and foreign denominated debt securitie... I Goldfajn - 《International Journal of Finance & Economics》 被引量: 100发表:...