Government Ponzi Games and Debt Dynamics Under Uncertainty /

We investigate the conditions for sustainability of debt roll-over schemes under uncertainty. In contrast with the requirements identified in recent research, we show that a necessary and sufficient condition for sustainability of such schemes is that the asymptotic interest rate on government debt...

Celý popis

Podrobná bibliografie
Hlavní autor: Bartolini, Leonardo
Další autoři: Cottarelli, Carlo
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 1991.
Edice:IMF Working Papers; Working Paper ; No. 1991/126
On-line přístup:Full text available on IMF