variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and … investment, and fiscal balances, from an empirical perspective. Based on empirical findings-particularly regarding inflation …

We study the effects of debt-financed fiscal transfers in a general equilibrium, heterogeneous-agent model of the world … economy. In the long run, increases in government debt anywhere raise the world interest rate and increase private wealth … savings ("excess savings") and a small but persistent current account deficit (a slow-motion "twin deficit"). These patterns …

curbed. The composition of fiscal policy relating to agriculture particularly public investment and subsidies is studied. It … is seen that periods of sustainable deficits are periods of rising public investment in agriculture. ICOR’s are rising … but less in the public sector suggesting externalities. Crowding in of private investment seems likely. Following this the …