Dynamic Efficiency, the Riskless Rate, and Debt Ponzi Games Under Uncertainty
收藏NBER1992-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w3992
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Can governments roll their debt over forever in dynamically efficient economies, and thus avoid the need to raise taxes? While the answer is a clear no under certainty, it depends, under uncertainty, on whether public debt provides intergenerational insurance. When it does not, rollover is not
提供机构：
美国国家经济研究局
创建时间：
1992-02-01
