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Public Debt and Endogenous Growth

  • Michael Bräuninger

Part of the Contributions to Economics book series (CE)

Table of contents

  1. Front Matter
    Pages i-ix
  2. Introduction

    1. Michael Bräuninger
      Pages 1-2
  3. The Closed Economy with AK Production

    1. Front Matter
      Pages 3-3
    2. Michael Bräuninger
      Pages 5-37
    3. Michael Bräuninger
      Pages 39-57
  4. Human Capital and Innovations in the Closed Economy

    1. Front Matter
      Pages 59-59
    2. Michael Bräuninger
      Pages 61-81
    3. Michael Bräuninger
      Pages 83-110
  5. The Open Economy with AK Production

    1. Front Matter
      Pages 111-111
    2. Michael Bräuninger
      Pages 113-140
    3. Michael Bräuninger
      Pages 141-158
    4. Michael Bräuninger
      Pages 159-168
    5. Michael Bräuninger
      Pages 169-170
  6. Back Matter
    Pages 171-182

About this book

Introduction

This book considers public debt dynamics in various endogenous growth models, namely the AK model and explicit models of innovation and human capital accumulation. Furthermore, the closed economy, the small open economy and a two-country world are analysed. In the closed economy model, the focus is on budget deficit and public debt dynamics and their influence on capital growth and output growth. Then, in the open economy model, the effects on foreign debt growth are considered. In a two-country setting, public debt growth in one country affects growth in the other country. In each scenario the government either fixes the deficit ratio or the tax rate. For both strategies the steady state is derived and stability is analysed. Then, dynamics induced by various shocks and policy measures are explored. Many diagrams illustrate the dynamics.

Keywords

Budget Deficit Economic Growth Endogenous Growth Public Debt Taxation growth growth model

Authors and affiliations

  • Michael Bräuninger
    • 1
  1. 1.Institut für Theoretische VolkswirtschaftslehreUniversität der Bundeswehr HamburgHamburgGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-57420-7
  • Copyright Information Physica-Verlag Heidelberg 2003
  • Publisher Name Physica, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-7908-0056-2
  • Online ISBN 978-3-642-57420-7
  • Series Print ISSN 1431-1933
  • Buy this book on publisher's site