The Austerity Threshold
收藏NBER2025-10-01 更新2025-11-01 收录
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https://www.nber.org/papers/w34397
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资源简介：
We introduce a new indicator of fiscal capacitythe austerity threshold: the debt-to-GDP level above which the government must raise fiscal surpluses to ensure debt safety. In a model with realistic risk premia, nominal rigidities, and an intermediary sector, calibrated to the U.S., we estimate this
提供机构：
美国国家经济研究局
创建时间：
2025-10-01
