A Note on Public-Debt Sustainability in an Economy with Declining Fertility
This note studies the relationship between population change and a government's long-term fiscal health. It uses an equilibrium model with dynamic optimization to investigate a situation in which a government repays its fiscal liabilities using tax revenues. The focus is on an upper bound on fiscal liability that is compatible with a no-Ponzi-game condition. The investigation deals, in particular, with how the upper bound depends on population size, population growth rate, and primary fiscal balance per person.
Volume (Year): 68 (2012)
Issue (Month): 2 (June)
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- Henning Bohn, 1998. "The Behavior of U. S. Public Debt and Deficits," The Quarterly Journal of Economics, Oxford University Press, vol. 113(3), pages 949-963.
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"Fertility Choice in a Model of Economic Growth,"
Econometric Society, vol. 57(2), pages 481-501, March.
- Robert J. Barro & Gary S. Becker, "undated". "Fertility Choice in a Model of Economic Growth," University of Chicago - Population Research Center 88-8, Chicago - Population Research Center.
- Barro, R.J. & Becker, G.S., 1988. "Fertility Choice In A Model Of Economic Growth," University of Chicago - Economics Research Center 88-8, Chicago - Economics Research Center.
- Gary S. Becker & Robert J. Barro, 1988. "A Reformulation of the Economic Theory of Fertility," The Quarterly Journal of Economics, Oxford University Press, vol. 103(1), pages 1-25.
- Gary S. Becker & Robert J. Barro, "undated". "A Reformulation of the Economic Theory of Fertility," University of Chicago - Population Research Center 85-11, Chicago - Population Research Center.
- Gary S. Becker & Robert J. Barro, 1986. "A Reformulation of the Economic Theory of Fertility," NBER Working Papers 1793, National Bureau of Economic Research, Inc.
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