Bessec, Marie; Desbonnet, Audrey; Kankanamge, Sumudu; … - Université Paris-Dauphine (Paris IX) - 2012
In this paper, we investigate the interactions between public debt and transfer policies in a framework based on Floden [2001], that we extend to allow for transitional dynamics between steady states. First, we show that, starting from a high level of public debt, it is possible to implement a...