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Debt non-neutrality, policy interactions, and macroeconomic stability
Linnemann, Ludger; Schabert, Andreas - 2005
, which justifies tight debt constraints. In particular, a balanced budget policy stabilizes the economy under cost …
Persistent link: https://www.econbiz.de/10011346485
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Debt non-neutrality, policy interactions, and macroeconomic stability
Linnemann, Ludger; Schabert, Andreas - 2005
Persistent link: https://www.econbiz.de/10003073173
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Default risk premia on government bonds in a quantitative macroeconomic model
Jüßen, Falko; Linnemann, Ludger; Schabert, Andreas - 2009
This paper examines the pricing of public debt in a quantitative macroeconomic model with government default risk. Default may occur due to a fiscal policy that does not preclude a Ponzi game. When a build-up of public debt makes this outcome inevitable, households stop lending such that the...
Persistent link: https://www.econbiz.de/10011379436
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Default risk premia on government bonds in a quantitative macroeconomic model
Juessen, Falko; Linnemann, Ludger; Schabert, Andreas - 2009
Persistent link: https://www.econbiz.de/10003913174
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Optimal government spending and unemployment
Linnemann, Ludger; Schabert, Andreas - 2008
Persistent link: https://www.econbiz.de/10003690042
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Optimal government spending and unemployment
Linnemann, Ludger; Schabert, Andreas - 2008 - This version: February 29, 2008
is contrasted with a reference policy which would be first best in a frictionless economy. Results are: the Ramsey policy …
Persistent link: https://www.econbiz.de/10011374417