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Government Debt and Capital Accumulation in the Blanchard-Cass-Yaari OLG Model

  • Bo Sandemann Rasmussen

    ()

    (Department of Economics, University of Aarhus, Denmark)

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    It is shown that although government debt in principle has an ambiguous effect on the steady state capital stock in an OLG model of the Blanchard-Cass-Yaari variety, once stability of the steady state equilibrium is imposed there is an unambiguous negative relation between the level of government debt and the capital stock.

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    File URL: ftp://ftp.econ.au.dk/afn/wp/00/wp00_14.pdf
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    Paper provided by School of Economics and Management, University of Aarhus in its series Economics Working Papers with number 2000-14.

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    Length: 10
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    Handle: RePEc:aah:aarhec:2000-14
    Contact details of provider: Web page: http://www.econ.au.dk/afn/

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    1. Jamsheed Shorish, . "Quasi-Static Macroeconomic Systems," Economics Working Papers 2000-3, School of Economics and Management, University of Aarhus.
    2. Rosholm, Michael & Svarer, Michael, 2001. "Structurally dependent competing risks," Economics Letters, Elsevier, vol. 73(2), pages 169-173, November.
    3. Olivier J. Blanchard, 1984. "Debt, Deficits and Finite Horizons," NBER Working Papers 1389, National Bureau of Economic Research, Inc.
    4. Effrosyni Diamantoudi & Licun Xue, 2003. "Farsighted stability in hedonic games," Social Choice and Welfare, Springer, vol. 21(1), pages 39-61, 08.
    5. Niels Haldrup & Peter Lildholdt, . "On the Robustness of Unit Root Tests in the Presence of Double Unit Roots," Economics Working Papers 2000-1, School of Economics and Management, University of Aarhus.
    6. Niels Haldrup & Peter Lildholdt, 2005. "Local power functions of tests for double unit roots," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 59(2), pages 159-179.
    7. Elliott, Graham & Jansson, Michael, 2000. "Testing for Unit Roots with Stationary Covariances," University of California at San Diego, Economics Working Paper Series qt47k7z69n, Department of Economics, UC San Diego.
    8. Licun Xue, . "Stable Agreements in Infinitely Repeated Games," Economics Working Papers 2000-13, School of Economics and Management, University of Aarhus.
    9. Gertler, Mark, 1997. "Government Debt and Social Security in a Life-Cycle Economy," Working Papers 97-14, C.V. Starr Center for Applied Economics, New York University.
    10. Licun Xue, . "A Notion of Consistent Rationalizability - Between Weak and Pearce's Extensive Form Rationalizability," Economics Working Papers 2000-4, School of Economics and Management, University of Aarhus.
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