Debt and the U.S. Economy
AbstractPublicly held debt to GDP ratio in the U.S. is estimated to be 72% in 2011 and is expected to continue rising. Many proposals regarding the ways to curb the government deficit and the resulting debt are being discussed. In this paper we incorporate these different policy proposals in a fully calibrated general equilibrium model. This framework allows us to model the reactions of labor and capital due to changes in policy which impact the projected debt to GDP ratios.
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Bibliographic InfoPaper provided by Society for Economic Dynamics in its series 2012 Meeting Papers with number 229.
Date of creation: 2012
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