Sustainability and Optimality of Public Debt

• Main Authors: Carlberg, Michael (Author), Hansen, Arne (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Physica, 2013.
• Edition: 2nd ed. 2013.
• Subjects: Macroeconomics.; International economics.; Public finance.; Economic growth.; Economics.; Public Economics.; Economic Growth.; International Economics.; Macroeconomics/Monetary Economics//Financial Economics.

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 tha...

Table of 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.