those who repay the debt if prices and wages are fixed and unemployment occurs in the periods in which public bonds are …

absence, and the presence, of unemployment. For example, a child allowance urges people to have more children and allocate … employment, it decreases per capita consumption. In the presence of unemployment, however, it reduces the deflationary gap and …

optimization model that explains a shortage of aggregate demand and unemployment. We show that government purchases boost aggregate …

debt policy when unemployment exists. Issues of public debt stimulate aggregate consumption demand and create employment …

with persistent unemployment arises. …