When Interest Rates Go Low, Should Public Debt Go High?
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Is deficit finance free when real borrowing rates are routinely lower than growth rates? Specifically, can the government make all generations better off by perpetually taking from the young and giving to the old? We study this question in stochastic closed- and open-economy OLG models.
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美国国家经济研究局创建时间：
2021-06-01
