Publicação
The economics of budget deficits and public debt
| dc.contributor.author | Afonso, António | |
| dc.date.accessioned | 2021-12-14T10:28:02Z | |
| dc.date.available | 2021-12-14T10:28:02Z | |
| dc.date.issued | 1997 | |
| dc.description.abstract | 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 | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Afonso, António. 1997. " The economics of budget deficits and public debt". Instituto Superior de Economia e Gestão - DE Working papers nº 5-1997/DE | pt_PT |
| dc.identifier.uri | http://hdl.handle.net/10400.5/22712 | |
| dc.language.iso | eng | pt_PT |
| dc.publisher | ISEG - Departamento de Economia | pt_PT |
| dc.relation.ispartofseries | DE/ Working papers nº 5-1997/DE | |
| dc.subject | Public Debt | pt_PT |
| dc.subject | Central Bank | pt_PT |
| dc.subject | Financing | pt_PT |
| dc.subject | Deficit | pt_PT |
| dc.title | The economics of budget deficits and public debt | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |