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Comments on Debt Dynamics

Mellár, Tamás (2003) Comments on Debt Dynamics. Acta Oeconomica, 53 (1). pp. 29-43. ISSN 0001-6373

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Abstract

The present paper deals with the accumulation of public debt based on different kinds of non-linear models. The same problem is analysed here in three different models. In the first model difference between growth rate and interest rate depends lineary on the debt/GDP ratio and the budget deficit. In the second model version this connection was non-linear, so two kinds of economic policy could be applied. In the third version the growth rate as well as the interest rate are in close connection with the debt/GDP ratio, in this case a stable equilibrium or a saddle path could be shown up.

Item Type: Article
Subjects: H Social Sciences / társadalomtudományok > H Social Sciences (General) / társadalomtudomány általában
Depositing User: xKatalin xBarta
Date Deposited: 27 Jan 2017 10:20
Last Modified: 27 Jan 2017 10:20
URI: http://real.mtak.hu/id/eprint/46558

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