Nishimura, Kazuo; Seegmuller, Thomas; Venditti, Alain - HAL - 2014
Imposing some constraints on public debt is often justified regarding sustainability and stability issues. This is … especially the case when the ratio of public debt over GDP is restricted to be constant. Using a Ramsey model, we show that such …. Indeed, through the intertemporal budget constraint of the government, income taxation negatively depends on future debt, i …