We investigate how large a primary deficit-to-GDP ratio Japan’s government can sustain. For this investigation, we construct an overlapping generations model in which multi-generational households live and the government maintains a constant ratio of the primary deficit to GDP. We numerically...

The Partnerships pillar of the 2030 Agenda for Sustainable Development cuts across all the goals focusing on the mobilisation of resources needed to implement the agenda. Thailand’s “sufficiency economy philosophy” encourages the prioritisation of long-term sustainability over short-term...

The findings from the VECM for BBS data reveal that there is a positive and significant relationship between FD and GDPGR, supporting the Keynesian theory, while findings from the VECM for World Bank data indicate that the impact of Fiscal Deficit (FD) on GDPGR is mild but negative and...

The paper reviews the economic risks associated with regimes of high public debt through DSGE model simulations. The large public debt build-up following the 2009 global financial and economic crisis acted as a shock absorber for output, while in the recent and more severe COVID19-crisis, an...

The idea of reducing insurance contributions from the current 30% to 21–22% while raising the VAT rate from 18% to 21–22% has been debated a lot since late in 2016. It is assumed that such a tax manoeuvre can reduce domestic producers' labour costs, and neither exporters nor investments will...

There are three schools of thought regarding economic effects of budget deficit: Neoclassical, Keynesian and Ricardian. Advocates of different school of thought elucidate different consequence of deficit budget. Empirical researches also failed to conclude concretely about the economic effect of...

After the 2009 global recession, many papers identified a non-linear inverted U-shaped relationship between economic growth and sovereign debt. However, their results are mixed regarding the exact turning point and, recently, the direction of its causality. According the traditional view, we...

Consecutive years of primary deficits have led to mounting public debt of almost 50% of GDP, one of the fastest increases in Latin America over the last decade. Government attempts to restore fiscal health have been undermined by a gridlocked Congress. While only minor reforms have been enacted...

Half of the world's population — 3 billion people — lives below the poverty line, and Asia has the largest share. In pursuit of sustainable economic development and poverty alleviation, there is great potential among low-income households for green consumption, production, innovation, and...