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...
| Auteur principal: | |
|---|---|
| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
2019.
|
| Collection: | IMF Working Papers; Working Paper ;
No. 2019/159 |
| Accès en ligne: | Full text available on IMF |