Staatsverschuldung ist eines der zentralen finanzpolitischen Themen der Gegenwart. Ziel der Arbeit ist es, die im Rahmen der «Neuen Wachstumstheorie» vollzogenen modellkonzeptionellen Entwicklungen für die finanztheoretische Analyse dieses Themas fruchtbar zu machen. Dazu wird die...

The consequences of government debt on capital formation, financial wealth and labor are investigated in a small open economy with demographic heterogeneity. Two alternative types of demographics are considered: one with intragenerational heterogeneity of the "savers-spenders" (SS) type, and one...

The consequences of government debt on capital formation, financial wealth and labor are investigated in a small open economy with demographic heterogeneity. Two alternative types of demographics are considered: one with intragenerational heterogeneity of the ''savers-spenders'' (SS) type, and...

We present an analytically tractable two-country New Open Economy Macroeconomics model of a currency union featuring an overlapping gen- erations structure of the Blanchard (1985)-Yaari (1965) type. It enables us to study the transmission and spillover effects of a wider range of fiscal shocks...