TITLE

INTEREST PAYMENTS AND THE STABILITY OF THE GOVERNMENT BUDGET DEFICIT IN AN OPEN AND GROWING ECONOMY

AUTHOR(S)
Van Ewijk, Casper
PUB. DATE
July 1986
SOURCE
De Economist (0013-063X);Jul1986, Vol. 134 Issue 2, p143
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article discusses the basic determinants of stability and instability of the accumulation of public debt in an open and growing economy. Unlike most previous studies which start from the basically short term IS-LM framework, this analysis centers on the long-term dynamics arising from the government budget restraint, the balance of payments restraint and the interaction between growth and income distribution. Several policy regimes for the government's budget are taken into consideration and specific attention is paid to the question of whether monetary and fiscal policy can effectively ensure the stability of the system.
ACCESSION #
17884069

 

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