Yasuoka, Masaya; Miyake, Atsushi - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-11, pp. 1-25
The public debt stock in some economically developed countries continues to increase because of a lack of tax revenues … allowances reduce the public debt stock as a share of GDP in an economy with a pension system. As long as a non-negative debt … policy is adopted in the long run, child allowances financed by bonds always increase the public debt stock as a share of GDP. …