| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Government Debt, Agent Heterogeneity and Wealth Displacement in a Small Open Economy |
| Alberto R. Petrucci
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| 发表日期 | 2002
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| 出处 | Economy and Society
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| 出版年 | 2002
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| 语种 | 英语
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| 摘要 | The consequences of government debt on capital formation, financial wealth and labor are investigated in a small open economy with demographic heterogeneity. Two alternative types of demographics are considered: one with intragenerational heterogeneity of the ''savers-spenders'' (SS) type, and one with intergenerational heterogeneity of the OLG type. The effects of debt and the financial crowding out morphology strictly depend on the type of demographic heterogeneity. While in the SS economy debt crowds out capital, increases net foreign assets and contracts labor, in the OLG economy it generates the exact opposite results. Our results differ substantially from those observed in a closed economy, where the type of demographic heterogeneity plays no qualitative role for the effects of debt on wealth and factor employment. |
| 特色分类 | E62,F41,H63
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| 关键词 | Government debt,Savers-spenders,Overlapping-generations,Capital formation,Net foreign assets
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/government-debt-agent-heterogeneity-and-wealth-displacement-in-a-small-open-economy/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116792
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推荐引用方式
GB/T 7714 |
Alberto R. Petrucci. Government Debt, Agent Heterogeneity and Wealth Displacement in a Small Open Economy. 2002.
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文件名：
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NDL2002-080.pdf
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格式：
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Adobe PDF
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