Interest-Growth Differentials and Debt Limits in Advanced Economies

Interest-Growth Differentials and Debt Limits in Advanced Economies
Do persistently low nominal interest rates mean that governments can safely borrow more? To addresses this question, I extend the model of Ghosh et al. [2013] to allow for persistent stochastic changes in nominal interest and growth rates. The key model parameter is the long-run difference between nominal interest and growth rates; if negative,... READ MORE...

Publication date: April 2018
ISBN 9781484350980
$18.00

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