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funds. In some periods, public debt increased more rapidly than the officially reported government deficit because the …
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The paper examines the role of fiscal and monetary policy on the dynamics of monetary expansion in a macroeconomy. Its microeconomic structure defined by producers with neoclassical production functions, heterogeneous OLG consumers, and a stationary fiscal and monetary policy induces a...
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. First of all, subnational government deficit figures are scrutinised and one of the questions asked is the extent to which … the financial crisis affected deficit figures. In the next section, the change in government debt is examined as a … comparison with the deficit figures could provide further information on the financing of subnational government deficits. The …
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