The economics of budget deficits and public debt

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 1997
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/22712
Resumo: The relationship between the Central Bank and the Treasury, concerning deficit financing, may be seen as a game where the two players only arrive to the best common outcome if they cooperate. Long-run debt arithmetic's unpleasantness relies crucially on the eventuality that real interest rate exceeds real economic growth. This paper offers some known theoretical considerations on these topics. Results concerning the key hypothesis of the long-run arithmetic's for the Portuguese reality, for the period 1974-1996, are also presented, showing the existence of an explosive public debt difference equation from 1992 to 1996
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spelling The economics of budget deficits and public debtPublic DebtCentral BankFinancingDeficitThe relationship between the Central Bank and the Treasury, concerning deficit financing, may be seen as a game where the two players only arrive to the best common outcome if they cooperate. Long-run debt arithmetic's unpleasantness relies crucially on the eventuality that real interest rate exceeds real economic growth. This paper offers some known theoretical considerations on these topics. Results concerning the key hypothesis of the long-run arithmetic's for the Portuguese reality, for the period 1974-1996, are also presented, showing the existence of an explosive public debt difference equation from 1992 to 1996ISEG - Departamento de EconomiaRepositório da Universidade de LisboaAfonso, António2021-12-14T10:28:02Z19971997-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/22712engAfonso, António. 1997. " The economics of budget deficits and public debt". Instituto Superior de Economia e Gestão - DE Working papers nº 5-1997/DEinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:52:16Zoai:www.repository.utl.pt:10400.5/22712Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:07:04.226881Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The economics of budget deficits and public debt
title The economics of budget deficits and public debt
spellingShingle The economics of budget deficits and public debt
Afonso, António
Public Debt
Central Bank
Financing
Deficit
title_short The economics of budget deficits and public debt
title_full The economics of budget deficits and public debt
title_fullStr The economics of budget deficits and public debt
title_full_unstemmed The economics of budget deficits and public debt
title_sort The economics of budget deficits and public debt
author Afonso, António
author_facet Afonso, António
author_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
dc.subject.por.fl_str_mv Public Debt
Central Bank
Financing
Deficit
topic Public Debt
Central Bank
Financing
Deficit
description The relationship between the Central Bank and the Treasury, concerning deficit financing, may be seen as a game where the two players only arrive to the best common outcome if they cooperate. Long-run debt arithmetic's unpleasantness relies crucially on the eventuality that real interest rate exceeds real economic growth. This paper offers some known theoretical considerations on these topics. Results concerning the key hypothesis of the long-run arithmetic's for the Portuguese reality, for the period 1974-1996, are also presented, showing the existence of an explosive public debt difference equation from 1992 to 1996
publishDate 1997
dc.date.none.fl_str_mv 1997
1997-01-01T00:00:00Z
2021-12-14T10:28:02Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/22712
url http://hdl.handle.net/10400.5/22712
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António. 1997. " The economics of budget deficits and public debt". Instituto Superior de Economia e Gestão - DE Working papers nº 5-1997/DE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG - Departamento de Economia
publisher.none.fl_str_mv ISEG - Departamento de Economia
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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