democracy in 1974 till the crisis of 2009. The econometric investigation is based on a model in which two political parties … determined expenditure and tax targets, subject to a debt accumulation equation. The model predicts a political equilibrium in …. However, this stabilization incentive is weaker in election years. The model also predicts potential partisan differences in …

the Indonesian economy. The symmetric model (Autoregressive Distributed Lag/ARDL) and the asymmetric model (Nonlinear ARDL …) are employed to estimate the association among the variables in the model, both in the short and long run, in a quarterly … the long run. This study only found a significant impact of trade openness on economic growth in the asymmetric model …

debt in a heterogeneous agent economy with incomplete insurance markets. Calibrating our model to the key aggregate and … results indicate that the inclusion of public infrastructure in the model specification implies a lower optimal debt level … becomes optimal, with the optimal share implied by our model being significantly higher than the average publicdebt-GDP ratio …