The sustainability of government deficits: implications of the present-value borrowing constraint.: An article from: Journal of Money, Credit & Banking

This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on August 1, 1989. The length of the article is 5470 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The paper introduces a new methodology for evaluating the sustainability of fiscal policy. The new methodology is distinguished from most existing tests in two important respects: first, it allows for stochastic real interest rates, and second, it is both necessary and sufficient. Results from the application of the new test suggest that recent fiscal policy in the U.S. has not been sustainable. The paper contrasts its findings with those of Hamilton and Flavin (1986). (Printed by permission of the publisher.)

Citation Details
Title: The sustainability of government deficits: implications of the present-value borrowing constraint.
Author: David W. Wilcox
Publication:Journal of Money, Credit & Banking (Refereed)
Date: August 1, 1989
Publisher: Ohio State University Press
Volume: v21 Issue: n3 Page: p291(16)

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