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Japanese government debt and sustainability of fiscal policy

✍ Scribed by Takero Doi; Takeo Hoshi; Tatsuyoshi Okimoto


Book ID
116660969
Publisher
Elsevier Science
Year
2011
Tongue
English
Weight
562 KB
Volume
25
Category
Article
ISSN
0889-1583

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Periodically expanding discounted debt:
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## Abstract This paper models the behaviour of discounted US debt using a Markov‐switching time series model. The significance of modelling fiscal policy within this framework derives from the implications it has for long‐term sustainability. The two‐regime framework used in this paper identifies p