G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
Government Debt, Agent Heterogeneity and Wealth Displacement in a Small Open Economy
Alberto R. Petrucci
发表日期2002
出处Economy and Society
出版年2002
语种英语
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
关键词Government debt,Savers-spenders,Overlapping-generations,Capital formation,Net foreign assets
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/government-debt-agent-heterogeneity-and-wealth-displacement-in-a-small-open-economy/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/116792
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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