Maximum Sustainable Government Debt in the Overlapping Generations Model
نویسندگان
چکیده
منابع مشابه
The inflation risk premium on government debt in an overlapping generations model
An overlapping generations model with long run inflation risk and a cash-in-advance constraint is used to derive a second-order accurate closed-form solution for the inflation risk premium on long-term government debt. The model predicts that the inflation risk premium depends crucially on the relative importance of nominal bonds and capital as sources of retirement consumption. In a calibrated...
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ژورنال
عنوان ژورنال: The Manchester School
سال: 2003
ISSN: 1463-6786,1467-9957
DOI: 10.1111/1467-9957.00344