Public Debt Bubbles in Heterogeneous Agent Models with Tail Risk
收藏NBER2021-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w29138
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资源简介：
This paper studies the public debt implications of a class of Aiyagari (1994)-Bewley (1977)-Huggett (1993) (ABH) models of incomplete insurance in which agents face a near-zero probability of a highly adverse outcome. In generic models of this kind, there exists a public debt bubble, so that the
提供机构：
美国国家经济研究局
创建时间：
2021-08-01
