Working in the context of an endogenous growth model with the public sector, we show that forward-looking agents' optimizing behavior typically gives rise to a wealth-based, rather than to an output-based, sustainability index of government policy. New insights emerge from calibrating the index to European countries along with the U.S. and Japan as reference countries.

Assessing sovereign debt sustainability using a wealth-based fiscal indicator / Canofari, P; Piergallini, A; Piersanti, G. - In: ECONOMICS BULLETIN. - ISSN 1545-2921. - ELETTRONICO. - 40:4(2020), pp. 2677-2688.

Assessing sovereign debt sustainability using a wealth-based fiscal indicator

Canofari, P
;
2020-01-01

Abstract

Working in the context of an endogenous growth model with the public sector, we show that forward-looking agents' optimizing behavior typically gives rise to a wealth-based, rather than to an output-based, sustainability index of government policy. New insights emerge from calibrating the index to European countries along with the U.S. and Japan as reference countries.
2020
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11566/285018
 Attenzione

Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo

Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 2
  • ???jsp.display-item.citation.isi??? 1
social impact