Public Debt and the Dynamics of Economic Growth

Greiner A (2014)
ANNALS OF ECONOMICS AND FINANCE 15(1): 185-204.

Journal Article | Published | English

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Abstract
We analyze the effects of public debt on economic growth and its dynamics in a basic endogenous growth assuming that the history of debt affects the primary surplus of the government. The economy with a balanced government budget is characterized by a unique balanced growth path and a condition for saddle point stability is derived. With permanent public deficits there is either no balanced growth path, a unique balanced growth path or there exist two balanced growth paths. The balanced growth path is either stable or unstable. Further, the system may undergo a Hopf bifurcation leading to stable limit cycles.
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Greiner A. Public Debt and the Dynamics of Economic Growth. ANNALS OF ECONOMICS AND FINANCE. 2014;15(1):185-204.
Greiner, A. (2014). Public Debt and the Dynamics of Economic Growth. ANNALS OF ECONOMICS AND FINANCE, 15(1), 185-204.
Greiner, A. (2014). Public Debt and the Dynamics of Economic Growth. ANNALS OF ECONOMICS AND FINANCE 15, 185-204.
Greiner, A., 2014. Public Debt and the Dynamics of Economic Growth. ANNALS OF ECONOMICS AND FINANCE, 15(1), p 185-204.
A. Greiner, “Public Debt and the Dynamics of Economic Growth”, ANNALS OF ECONOMICS AND FINANCE, vol. 15, 2014, pp. 185-204.
Greiner, A.: Public Debt and the Dynamics of Economic Growth. ANNALS OF ECONOMICS AND FINANCE. 15, 185-204 (2014).
Greiner, Alfred. “Public Debt and the Dynamics of Economic Growth”. ANNALS OF ECONOMICS AND FINANCE 15.1 (2014): 185-204.
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