Death, Population Growth, Productivity Growth and Debt Neutrality
AbstractDebt neutrality is said to occur if, given a program for public spending on current goods and services over time, the real equilibrium of the economy (private consumption, investment, relative prices, etc.) is independent of the pattern of government borrowing and lump-sum taxation over time. The paper brings together work of Blanchard on individual uncertain lifetimes and debt neutrality and Weil on population growth and debt neutrality. It is shown that there will be debt neutrality if and only if the sum of the rate of growth of population and the individual probability of death equals zero. If this condition holds, non-zero rates of growth of labor productivity will not destroy debt neutrality.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2027.
Date of creation: Nov 1988
Date of revision:
Contact details of provider:
Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Hippolyte d’Albis, 2003.
"La croissance démographique dans les modèles à générations imbriquées,"
Presses de Sciences-Po, vol. 54(3), pages 573-582.
- Hippolyte D'Albis, 2003. "La croissance démographique dans les modèles à générations imbriquées," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) hal-00630245, HAL.
- D'ALBIS Hippolyte & AUGERAUD-VÃ‰RON Emmanuelle, 2009.
"Continuous-Time Overlapping Generations Models,"
LERNA Working Papers
09.15.291, LERNA, University of Toulouse.
- d'Albis, Hippolyte & Augeraud-Véron, Emmanuelle, 2009. "Continuous-Time Overlapping Generations Models," TSE Working Papers 09-047, Toulouse School of Economics (TSE).
- Hippolyte D'Albis & Emmanuelle Augeraud-Véron, 2011. "Continuous-Time Overlapping Generations Models," Post-Print hal-00424799, HAL.
- Hippolyte D'Albis, 2007.
"Demographic structure and capital accumulation,"
- d'Albis, Hippolyte, 2007. "Demographic Structure and Capital Accumulation," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
- Alogoskoufis, George & van der Ploeg, Frederick, 1991.
"Money and Growth Revisited,"
CEPR Discussion Papers
532, C.E.P.R. Discussion Papers.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.