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2004-06-08
英文文献:Government Debt and Capital Accumulation in the Blanchard-Cass-Yaari OLG Model
英文文献作者:Bo Sandemann Rasmussen
英文文献摘要:
It is shown that although government debt in principle has an ambiguous effect on the steady state capital stock in an OLG model of the Blanchard-Cass-Yaari variety, once stability of the steady state equilibrium is imposed there is an unambiguous negative relation between the level of government debt and the capital stock.
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