| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP533 |
| DP533 Debts, Deficits and Growth in Interdependent Economies | |
| Frederick van der Ploeg; George Alogoskoufis | |
| 发表日期 | 1991-04-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | We investigate the effects of budgetary policies on growth rates, external debt, real interest rates and the stock market valuation of capital in a two-country, overlapping-generations model of endogenous growth. A worldwide rise in the public debt/GDP ratio, or the share of government consumption, reduces savings and growth. They also increase real interest rates and depress the stock market because of the adjustment costs of investment. A relative rise in one country's debt/GDP ratio or its GDP share of government consumption results in a reduction in its ratio of external assets to GDP. Growth rates are equalized unless there are differences in investment adjustment costs or depreciation rates. Per capita output levels do not necessarily converge. |
| 主题 | International Macroeconomics |
| 关键词 | Asset markets Endogenous growth External debt Open economics Public debt |
| URL | https://cepr.org/publications/dp533 |
| 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/529689 |
| 推荐引用方式 GB/T 7714 | Frederick van der Ploeg,George Alogoskoufis. DP533 Debts, Deficits and Growth in Interdependent Economies. 1991. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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