G2TT
来源类型Discussion paper
规范类型论文
来源IDDP437
DP437 National Insolvency: A Test of the US Intertemporal Budget Constraint
Michael R. Wickens; Merih Uctum
发表日期1990-08-01
出版年1990
语种英语
摘要If a nation fails to satisfy its intertemporal budget constraint (IBC) then, like a government or a household, either it will become insolvent or it can consume more of its income. The main purpose of this paper is to establish necessary and sufficient conditions for a nation to satisfy its IBC, and to use these to carry out a test of whether the United States is violating its IBC. After suitable modifications the techniques used in the literature in testing the government IBC can be used; for example, the balance of payments replaces the government budget constraint. The analysis provides a number of new results and generalizations of existing results.
主题International Macroeconomics
关键词Balance of payments Budget constraint Government spending
URLhttps://cepr.org/publications/dp437
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/529593
推荐引用方式
GB/T 7714
Michael R. Wickens,Merih Uctum. DP437 National Insolvency: A Test of the US Intertemporal Budget Constraint. 1990.
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