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Sustainable government debt in a two-good, two-country overlapping generations model

✍ Scribed by Karl Farmer; Jacopo Zotti


Book ID
107632459
Publisher
Springer-Verlag
Year
2010
Tongue
English
Weight
499 KB
Volume
57
Category
Article
ISSN
1865-1704

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This paper investigates the global dynamics of a two-dimensional Diamond-type overlapping generations model extended to allow for government intervention. Using a singular perturbation method, we identify conditions under which transverse homoclinic points to the golden rule steady state are generat