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Environment, public debt, and epidemics [PDF]
Journal of Public Economic Theory, 2022 AbstractWe study whether fiscal policies, especially public debt, can help to curb the macroeconomic and health consequences of epidemics. Our approach is based on three main features: we introduce the dynamics of epidemics in an overlapping generations model to take into account that old people are more vulnerable; people are more easily infected when
Davin, Marion +2 more
openaire +8 more sources
Public debt and inflation: empirical evidence from Ghana
Development Studies Research, 2021 This paper investigates the impact of public debt on inflation in Ghana using annual data during the period 1983–2018. The study uses the Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration and an error correction model to ...
A. Aimola, N. Odhiambo
semanticscholar +1 more source
Public Debt Bubbles in Heterogeneous Agent Models with Tail Risk
Social Science Research Network, 2021 This paper studies the public debt implications of a class of Aiyagari (1994)-Bewley (1977)-Huggett (1993) (ABH) models of incomplete insurance in which agents face a near-zero probability of a highly adverse outcome.
N. Kocherlakota
semanticscholar +1 more source
Public Debt as Private Wealth [PDF]
, 2008 Government bonds are interest-bearing assets. Increasing public debt increases income, wealth, and consumption demand. The smaller government expenditure is, the larger consumption demand must be in equilibrium, and the larger must be public debt ...
Schlicht, Ekkehart
core +4 more sources
Public debt and economic growth: panel data evidence for Asian countries
Journal of economics and finance, 2020 This study examines the relationship between public debt on both short and long-run economic growth, in a panel of selected Asian countries for the period of 1980–2012.
D. Asteriou +2 more
semanticscholar +1 more source
Public Debt Expansions and the Dynamics of the Household Borrowing Constraint
Review of economic dynamics (Print), 2020 Contrary to a well-established view, public debt expansions may tighten the household borrowing constraint over time. Within an incomplete-markets model featuring an endogenous borrowing limit, we show that plausible debt-financed fiscal policies ...
V. Ercolani, António R. Antunes
semanticscholar +1 more source
PUBLIC DEBT AND ECONOMIC GROWTH IN EURO AREA COUNTRIES. A WAVELET APPROACH
, 2021 In this paper we propose to analyze the dynamic of the relation between public debt and economic growth rate for Euro area countries by employing a wavelet approach, establishing thus both short-term and long-term correlations between these two variables.
Ada-Cristina Albu, Lucian-Liviu Albu
semanticscholar +1 more source
Organizations and Markets in Emerging Economies, 2022 This study employs the bootstrap autoregressive distributed lag (ARDL) approach alongside the dynamic ARDL simulations technique to investigate the non-linear effect of public debt on public expenditure in Nigeria during the 1981–2020 period. The result
Nurudeen Abu +3 more
doaj +1 more source
Economic Consequences of High Public Debt: Evidence from Three Large Scale DSGE Models
Social Science Research Network, 2020 The paper reviews the economic risks associated with regimes of high public debt through DSGE model simulations. The large public debt build-up following the 2009 global financial and economic crisis acted as a shock absorber for output, while in the ...
Pablo Burriel +4 more
semanticscholar +1 more source
Economica, 2010 The recent global financial crisis has led to an unprecedented increase in public debt across the world, raising serious concerns about its economic impact. This paper examines the impact of high public debt on long‐run economic growth in a large panel of countries over the last four decades.
Jaejoon Woo, Manmohan S. Kumar
openaire +2 more sources