Showing 1 - 10 of 13,577
We study the dynamic relationship between the public debt ratio and the real interest rate. By means of a macroeconomic model of simultaneous difference equations - one for the debt ratio and the other for the real interest rate - we focus on the role of monetary policy, fiscal policy and risk...
Persistent link: https://www.econbiz.de/10013306534
Persistent link: https://www.econbiz.de/10015080881
Persistent link: https://www.econbiz.de/10010437616
Persistent link: https://www.econbiz.de/10012211846
Persistent link: https://www.econbiz.de/10012121028
Persistent link: https://www.econbiz.de/10001591601
Persistent link: https://www.econbiz.de/10001557002
Persistent link: https://www.econbiz.de/10001827148
In this paper we characterise fiscal policy in terms of non-linear processes. We find that government spending and taxes can be described as being non-linear trend stationary processes instead of unit roots. A long run equilibrium relationship - a non-linear co-trend - does exist between the two...
Persistent link: https://www.econbiz.de/10014075912
Persistent link: https://www.econbiz.de/10011317161