Arai, Real; Kunieda, Takuma; Nishida, Keigo - Institute of Economic Research, Kyoto University - 2014
the growth-enhancing crowd-in effect that cannot be uncovered by the traditional theoretical achievements. We develop a …-shaped relationship in the growth process. When the public debt-to-GDP ratio is below a certain threshold level, the crowd-in effect … dominating the crowd-in effect. …