Azizi, Karim; Canry, Nicolas; Chatelain, Jean-Bernard; … - Political Economy Research Institute (PERI), University … - 2012
This paper investigates the relevance of the No-Ponzi game condition for public debt (i.e. the public debt growth rate has to be lower than the real interest rate) and the transversality condition for the GDP growth rate (i.e. the GDP growth rate has to be lower than the real interest rate)....
