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Free Content Comments on Debt Dynamics

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The present paper deals with the accumulation of public debt based on different kinds of non-linear models. The same problem is analysed here in three different models. In the first model difference between growth rate and interest rate depends lineary on the debt/GDP ratio and the budget deficit. In the second model version this connection was non-linear, so two kinds of economic policy could be applied. In the third version the growth rate as well as the interest rate are in close connection with the debt/GDP ratio, in this case a stable equilibrium or a saddle path could be shown up.
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Keywords: debt/GDP ratio; dept trap; equilibrium; non-linear models; stability

Document Type: Research Article

Publication date: 2003-03-28

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