000			02770nam a22005055i 4500
001			978-3-642-32967-8
003			DE-He213
005			20200420211752.0
007			cr nn 008mamaa
008			121213s2013 gw | s |||| 0|eng d
020			_a9783642329678 _9978-3-642-32967-8
024	7		_a10.1007/978-3-642-32967-8 _2doi
050		4	_aHJ9-9940
072		7	_aKFFD _2bicssc
072		7	_aBUS051000 _2bisacsh
082	0	4	_a336 _223
100	1		_aCarlberg, Michael. _eauthor.
245	1	0	_aSustainability and Optimality of Public Debt _h[electronic resource] / _cby Michael Carlberg, Arne Hansen.
250			_a2nd ed. 2013.
264		1	_aBerlin, Heidelberg : _bSpringer Berlin Heidelberg : _bImprint: Physica, _c2013.
300			_aXII, 212 p. _bonline resource.
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
347			_atext file _bPDF _2rda
505	0		_aIntroduction -- A Brief Survey of the Literature -- The Closed Economy: The Solow Model -- Overlapping Generations -- Infinite Horizon -- The Small Open Economy: The Solow Model -- Overlapping Generations -- Two Countries: The Solow Model -- Synopsis -- Conclusion -- Result.
520			_aThis book studies the sustainability and optimality of public debt under different scenarios: the closed economy, the small open economy, and a two-country setting. Sustainability refers to the existence and the stability of the long-run equilibrium. Optimality relates to the path of public debt that maximizes discounted utility. The analysis is conducted within the framework of the Solow model, the overlapping generations model and the infinite horizon model. The government can follow different strategies, it either fixes the deficit ratio or the tax rate. As a result, a fixed deficit ratio generally can be sustained. By contrast, a fixed tax rate generally cannot be sustained. Depending on the chosen fiscal strategy, there exists either an optimal deficit ratio or an optimal tax rate that maximizes the sum of consumption and government purchases per capita.
650		0	_aMacroeconomics.
650		0	_aInternational economics.
650		0	_aPublic finance.
650		0	_aEconomic growth.
650	1	4	_aEconomics.
650	2	4	_aPublic Economics.
650	2	4	_aEconomic Growth.
650	2	4	_aInternational Economics.
650	2	4	_aMacroeconomics/Monetary Economics//Financial Economics.
700	1		_aHansen, Arne. _eauthor.
710	2		_aSpringerLink (Online service)
773	0		_tSpringer eBooks
776	0	8	_iPrinted edition: _z9783642329661
856	4	0	_uhttp://dx.doi.org/10.1007/978-3-642-32967-8
912			_aZDB-2-SBE
942			_cEBK
999			_c51353 _d51353