A Buffer-Stock Model for the Government : Balancing Stability and Sustainability /
A fiscal reaction function to debt and the cycle is built on a buffer-stock model for the government. This model inspired by the buffer-stock model of the consumer (Deaton 1991; Carroll 1997) includes a debt limit instead of the Intertemporal Budget Constraint (IBC). The IBC is weak (Bohn, 2007), a...
| Egile nagusia: | |
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| Formatua: | Aldizkaria |
| Hizkuntza: | English |
| Argitaratua: |
Washington, D.C. :
International Monetary Fund,
2019.
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| Saila: | IMF Working Papers; Working Paper ;
No. 2019/159 |
| Sarrera elektronikoa: | Full text available on IMF |