Narrow search
Showing 1 - 10 of 553
Cover Image
Domino Secessions : Evidence from the U.S
Lacroix, Jean; Mitchener, Kris; Oosterlinck, Kim - National Bureau of Economic Research - 2023
We analyze how secession movements unfold and the interdependence of regions' decisions to secede. We first model and … then empirically examine how secessions can occur sequentially because the costs of secession decrease with the number of … these "domino secessions" using the canonical case of the secession of southern U.S. states in the 1860s. We establish that …
Persistent link: https://www.econbiz.de/10014337822
Cover Image
When Interest Rates Go Low, Should Public Debt Go High?
Brumm, Johannes; Feng, Xiangyu; Kotlikoff, Laurence J.; … - National Bureau of Economic Research - 2021
Is deficit finance, explicit or implicit, free when borrowing rates are routinely lower than growth rates? Specifically, can the government make all generations better off by perpetually taking from the young and giving to the old? We study this question in simple closed and open economies and...
Persistent link: https://www.econbiz.de/10012585435
Cover Image
Is Everything Neutral?
Bernheim, B. Douglas - 1986
In his well-known analysis of the national debt, Robert Barro introduced the notion of a "dynastic family." This notion has since become a standard research tool, particularly in the areas of public finance and macroeconomics. In this paper, we critique the assumptions upon which the dynastic...
Persistent link: https://www.econbiz.de/10012476983
Cover Image
Is Debt Neutral in the Life Cycle Model?
Kotlikoff, Laurence J. - 1986
This paper questions the widely accepted view that deficits have real effects in the life cycle model. Standard analyses of deficits within life cycle models treat the government as a dictatorial entity that can effect any intergenerational redistribution it desires. In contrast, this paper...
Persistent link: https://www.econbiz.de/10012477016
Cover Image
Deficits and Intergenerational Welfare in Open Economies
Persson, Torsten - 1983
This paper deals with public debt in open economies, extending Diamond's overlapping generations model to deal with a small openeconor as well as an international eciuilibrium of two large economies. It focuses on the intergenerational welfare redistributions caused by an increase in the public...
Persistent link: https://www.econbiz.de/10012478020
Cover Image
Are Large Deficits and Debt Dangerous?
Boskin, Michael J. - 2020
The Traditional View (TV) of large deficits and debt is they have large economic costs, save in a recession and early recovery, because they crowd out investment and lower future income, and taken to extremes, can cause inflation and even a financial crisis. The TV has been challenged, most...
Persistent link: https://www.econbiz.de/10012479251
Cover Image
Generational Accounts - A Meaningful Alternative to Deficit Accounting
Auerbach, Alan J. - 1991
This paper presents a set of generational accounts (GAS) that can be used to assess the fiscal burden current generations are placing on future generations. The GAS indicate the net present value amount that current and future generations are projected to pay to the government now and in the...
Persistent link: https://www.econbiz.de/10012475431
Cover Image
The Politics of Intergenerational Redistribution
Tabellini, Guido - 1989
This paper studies the political-economic equilibrium of a two-period model with overlapping generations. In each period the policy is chosen under majority rule by the generations currently alive. The paper identifies a "sustainable set" of values for public debt. Any amount of debt within this...
Persistent link: https://www.econbiz.de/10012475988
Cover Image
Institutions vs. Policies : A Tale of Two Islands
Henry, Peter Blair - 2008
Recent work emphasizes the primacy of differences in countries' colonially-bequeathed property rights and legal systems for explaining differences in their subsequent economic development. Barbados and Jamaica provide a striking counter example to this long-run view of income determination. Both...
Persistent link: https://www.econbiz.de/10012464043
Cover Image
Economic Integration and Political Disintegration
Alesina, Alberto - 1997
Trade liberalization and political separatism go hand in hand. In a world of trade restrictions, large countries enjoy economic benefits because political boundaries determine the size of the market. In a world of free trade and global markets even relatively small cultural, linguistic or ethnic...
Persistent link: https://www.econbiz.de/10012472651