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来源类型 | Discussion paper |
规范类型 | 论文 |
来源ID | DP437 |
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 |
URL | https://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. |
条目包含的文件 | 条目无相关文件。 |
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