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Sustainability and optimality of public debt /

"This book studies the sustainability and optimality of public debt under different scenarios: the closed economy, the small open economy, and a two-country setting. Sustainability refers to the existence and the stability of the long-run equilibrium. Optimality relates to the path of public de...

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Bibliographic Details
Main Authors: Carlberg, Michael
Group Author: Hansen, Arne
Published:
Literature type: Book
Language: English
Edition: 2nd ed.
Subjects:
Debts, Public > Mathematical models
Summary: "This book studies the sustainability and optimality of public debt under different scenarios: the closed economy, the small open economy, and a two-country setting. Sustainability refers to the existence and the stability of the long-run equilibrium. Optimality relates to the path of public debt that maximizes discounted utility. The analysis is conducted within the framework of the Solow model, the overlapping generations model and the infinite horizon model. The government can follow different strategies, it either fixes the deficit ratio or the tax rate. As a result, a fixed deficit rati
Carrier Form: xii, 212 p. : ill. ; 24 cm.
Bibliography: Includes bibliographical references.
ISBN: 3642329667
9783642329661 (hbk.) :
Index Number: HJ8015
CLC: F830.9
Call Number: F830.9/C278/2nd ed.
Contents: Introduction -- A Brief Survey of the Literature -- The Closed Economy: The Solow Model -- Overlapping Generations -- Infinite Horizon -- The Small Open Economy: The Solow Model -- Overlapping Generations -- Two Countries: The Solow Model -- Synopsis -- Conclusion -- Result.

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