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Rotten Parents and Disciplined Children: A Politico‐Economic Theory of Public Expenditure and Debt

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  • Zheng Song
  • Kjetil Storesletten
  • Fabrizio Zilibotti

Abstract

sufficiently large, the economy converges to a stationary debt level which is bounded away from the endogenous debt limit.

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Bibliographic Info

Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 80 (2012)
Issue (Month): 6 (November)
Pages: 2785-2803

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Handle: RePEc:ecm:emetrp:v:80:y:2012:i:6:p:2785-2803

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  7. Stephen Coate & Marco Battaglini, 2007. "A Dynamic Theory of Public Spending, Taxation and Debt," 2007 Meeting Papers 573, Society for Economic Dynamics.
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  9. Luisa Lambertini, 2003. "Are Budget Deficits Used Strategically?," Boston College Working Papers in Economics 578, Boston College Department of Economics.
  10. Hassler, John & Krusell, Per & Storesletten, Kjetil & Zilibotti, Fabrizio, 2005. "The dynamics of government," Journal of Monetary Economics, Elsevier, vol. 52(7), pages 1331-1358, October.
  11. Zheng Song, 2011. "The Dynamics of Inequality and Social Security in General Equilibrium," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(4), pages 613-635, October.
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  1. Automatic fiscal discipline
    by Economic Logician in Economic Logic on 2009-07-20 18:55:00
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