Sustainable Public Debt and Economic Growth under Wage Rigidity

Greiner A (2013)
Metroeconomica 64(2): 272-292.

Journal Article | Published | English

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Abstract
We analyse the effects of public debt on economic growth in a basic endogenous growth model with persistent unemployment due to wages rigidities. We show that there exists either a unique balanced growth path or there are two balanced growth paths depending on structural parameters and on the flexibility of the labour market. Further, public debt does not affect long-run growth and employment but only stability of the economy. Stability is more likely when governments put a high weight on stabilizing the debt to GDP ratio.
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Greiner A. Sustainable Public Debt and Economic Growth under Wage Rigidity. Metroeconomica. 2013;64(2):272-292.
Greiner, A. (2013). Sustainable Public Debt and Economic Growth under Wage Rigidity. Metroeconomica, 64(2), 272-292.
Greiner, A. (2013). Sustainable Public Debt and Economic Growth under Wage Rigidity. Metroeconomica 64, 272-292.
Greiner, A., 2013. Sustainable Public Debt and Economic Growth under Wage Rigidity. Metroeconomica, 64(2), p 272-292.
A. Greiner, “Sustainable Public Debt and Economic Growth under Wage Rigidity”, Metroeconomica, vol. 64, 2013, pp. 272-292.
Greiner, A.: Sustainable Public Debt and Economic Growth under Wage Rigidity. Metroeconomica. 64, 272-292 (2013).
Greiner, Alfred. “Sustainable Public Debt and Economic Growth under Wage Rigidity”. Metroeconomica 64.2 (2013): 272-292.
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