97 research outputs found
Maximum Sustainable Government Debt in the Overlapping Generations Model.
Get PDFThe theoretical determinants of maximum sustainable government debt are investigated using Diamond's overlapping-generations model. A level of debt is defined to be 'sustainable' f a steady state with non-degenerate values of economic variables exists. We show that a maximum sustainable level of debt almost always exists. Most interestingly, it normally occurs at a 'catastrophe' ather than a 'degeneracy' , i.e. where variables such as capital and consumption are in the interiors, rather than at the limits, of their economically meaningful ranges. This means that if debt is increased step by step, the economy may suddenly collapse without obvious warning.GOVERNMENT DEBT ; OVERLAPPING GENERATIONS
The importance of preferential solvation of the CN ligands in electron- and proton-transfers observed for cis-[Ru(CN)2(bpy)2] under ion bombardment
Full text linkDoes the Underground Economy Hold Back Financial Deepening? Evidence from the Italian Credit Market
Full text linkCorrecting Inflation with Financial Dynamic Fundamentals: Which Adjustments Matter in Africa?
Full text link
Maximum sustainable government debt in the overlapping generations model
No full textSIGLEAvailable from British Library Document Supply Centre-DSC:9261.960(521) / BLDSC - British Library Document Supply CentreGBUnited Kingdo
- …
