This book considers public debt dynamics in various endogenous growth models, namely the AK model and explicit models of innovation and human capital accumulation. Furthermore, the closed economy, the small open economy and a two-country world are analysed. In the closed economy model, the focus is...

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Bibliographic Details

Main Author:	Bräuninger, Michael (Author)
Format:	Electronic eBook
Language:	English
Published:	Heidelberg Physica-Verlag HD 2003
Edition:	1st ed. 2003
Series:	Contributions to Economics
Subjects:	Economics, general Public Economics Economic Growth Economics Management science Public finance Economic growth Offene Volkswirtschaft Endogenes Wirtschaftswachstum Geschlossene Volkswirtschaft Öffentliche Schulden
Online Access:	BTU01 Volltext
Summary:	This book considers public debt dynamics in various endogenous growth models, namely the AK model and explicit models of innovation and human capital accumulation. Furthermore, the closed economy, the small open economy and a two-country world are analysed. In the closed economy model, the focus is on budget deficit and public debt dynamics and their influence on capital growth and output growth. Then, in the open economy model, the effects on foreign debt growth are considered. In a two-country setting, public debt growth in one country affects growth in the other country. In each scenario the government either fixes the deficit ratio or the tax rate. For both strategies the steady state is derived and stability is analysed. Then, dynamics induced by various shocks and policy measures are explored. Many diagrams illustrate the dynamics
Physical Description:	1 Online-Ressource (X, 182 p)
ISBN:	9783642574207
DOI:	10.1007/978-3-642-57420-7