| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3992 |
| 来源ID | Working Paper 3992 |
| Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty | |
| Olivier Jean Blanchard; Philippe Weil | |
| 发表日期 | 1992-02-01 |
| 出版年 | 1992 |
| 语种 | 英语 |
| 摘要 | Can governments roll their debt over forever in dynamically efficient economies, and thus avoid the need to raise taxes? While the answer is a clear no under certainty, it depends, under uncertainty, on whether public debt provides intergenerational insurance. When it does not, rollover is not possible, even if the rate of return on one-period bonds is below the growth rate. When it does, debt rollover may be possible, even if the return on one-period bonds is above the growth rate. |
| 主题 | Public Economics ; National Fiscal Issues ; Financial Economics ; Portfolio Selection and Asset Pricing |
| URL | https://www.nber.org/papers/w3992 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/561334 |
| 推荐引用方式 GB/T 7714 | Olivier Jean Blanchard,Philippe Weil. Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty. 1992. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3992.pdf（190KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
