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Government Debt, Life-Cycle Income and Liquidity Constrains : Beyond Approximate Ricardian Equivalence
Symansky, Steven A. - 1996
show that this result is determined largely by an unrealistic assumption that labor income grows monotonically over a …
Persistent link: https://www.econbiz.de/10014395872
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Economic Implications of China's Demographics in the 21st Century
Cheng, Kevin C. - 2003
significant link between demographic structures and per capita income growth …
Persistent link: https://www.econbiz.de/10014404019
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Mozambique : Economic Rehabilitation and the Poor
Lopes, Paulo Silva - 1991
Poverty has remained widespread in Mozambique, mostly on account of the prevalent war situation. This paper provides a … profile of the lowest income groups in Mozambique and examines how they were affected by the economic recovery program of 1986 … relative income position. However, in the presence of a large refugee population and war-related destruction, there continues …
Persistent link: https://www.econbiz.de/10014396526
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Constrained efficient borrowing with sovereign default risk
Hatchondo, Juan Carlos; Martinez, Leonardo; Roch, Francisco - 2020
that commits to income-history-contingent borrowing paths taking as given ex-post optimal future default decisions. The …
Persistent link: https://www.econbiz.de/10012392477
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Credibility dynamics and disinflation plans
Kostadinov, Rumen; Roldán, Francisco - 2020
We study the optimal design of a disinflation plan by a planner who lacks commitment. Having announced a plan, the Central banker faces a tradeoff between surprise inflation and building reputation, defined as the private sector's belief that the Central bank is committed to the plan. Some plans...
Persistent link: https://www.econbiz.de/10012251953
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Optimal Tax/Expenditure Competition Strategy of Governments in the Presence of Time Inconsistency : The Case for Investment Tax Abacemencs
International Monetary Fund - 1990
tax abatement scheme which provides a subsidy (funded by a capital income tax) equivalent to moving/setup costs …
Persistent link: https://www.econbiz.de/10014396504
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Sudden stops, time inconsistency, and the duration of sovereign debt
Hatchondo, Juan Carlos; Martinez, Leonardo - 2013
We study the sovereign debt duration chosen by the government in the context of a standard model of sovereign default. The government balances off increasing the duration of its debt to mitigate rollover risk and lowering duration to mitigate the debt dilution problem. We present two main...
Persistent link: https://www.econbiz.de/10012667555
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Politically robust financial regulation
Agur, Itai - 2021
Persistent link: https://www.econbiz.de/10012487179
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Fix vs. float : evaluating the transition to a sustainable equilibrium in Bolivia
González, Andrés; Jafarov, Etibar; Rodríguez, Diego; … - 2022
Bolivia has achieved noteworthy success over the past 15 years in raising incomes, reducing poverty, and maintaining …
Persistent link: https://www.econbiz.de/10013170086
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Fiscal Restraint, Demographic Change, and Social Services in Israel, 1985-1987, and Application of the Methodology to Latin America
International Monetary Fund - 1988
The paper analyzes the development of government social expenditure during the economic stabilization period, with specific reference to the changing needs for such expenditure arising from the change in Israel’s demographic structure. The results reveal a real cut in direct services. The...
Persistent link: https://www.econbiz.de/10014396494