Government Ponzi games and debt dynamics under uncertainty /
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| Author / Creator: | Bartolini, Leonardo, author. |
|---|---|
| Imprint: | [Washington, D.C.?] : International Monetary Fund, European Department, 1991. |
| Description: | 1 online resource (iii, 18 pages) : illustrations. |
| Language: | English |
| Series: | IMF working paper ; WP/91/126 IMF working paper ; WP/91/126. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496669 |
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| 100 | 1 | |a Bartolini, Leonardo, |e author. |0 http://id.loc.gov/authorities/names/nr90000431 | |
| 245 | 1 | 0 | |a Government Ponzi games and debt dynamics under uncertainty / |c prepared by Leonardo Bartolini and Carlo Cottarelli. |
| 260 | |a [Washington, D.C.?] : |b International Monetary Fund, European Department, |c 1991. | ||
| 300 | |a 1 online resource (iii, 18 pages) : |b illustrations. | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/91/126 | |
| 504 | |a Includes bibliographical references (pages 17-18). | ||
| 506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
| 533 | |a Electronic reproduction. |b [S.l.] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
| 538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
| 583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
| 588 | 0 | |a Print version record. | |
| 520 | 8 | |a Annotation |b We investigate the conditions for sustainability of debt roll-over schemes under uncertainty. In contrast with the requirements identified in recent research, we show that a necessary and sufficient condition for sustainability of such schemes is that the asymptotic interest rate on government debt be lower than the asymptotic growth rate of the economy, a natural extension of a familiar criterion in a deterministic framework. However, we also show that for realistic parameter values, Ponzi games that are sustainable in the long run may display explosive patterns over relatively long horizons. This may explain why governments may be reluctant to play Ponzi games even when they are feasible in the long run. | |
| 650 | 0 | |a Deficit financing |x Econometric models. | |
| 650 | 0 | |a Debts, External. |0 http://id.loc.gov/authorities/subjects/sh85036140 | |
| 650 | 6 | |a Dettes extérieures. | |
| 650 | 6 | |a Financement par le déficit |x Modèles économétriques. | |
| 650 | 7 | |a Debts, External. |2 fast |0 (OCoLC)fst00888828 | |
| 650 | 7 | |a Deficit financing |x Econometric models. |2 fast |0 (OCoLC)fst00889733 | |
| 700 | 1 | |a Cottarelli, Carlo, |e author. |0 http://id.loc.gov/authorities/names/n90609163 | |
| 710 | 2 | |a International Monetary Fund. |b Research Department, |e issuing body. |0 http://id.loc.gov/authorities/names/n77001219 | |
| 776 | 0 | 8 | |i Print version: |a Bartolini, Leonardo. |t Government Ponzi games and debt dynamics under uncertainty. |d [Washington, D.C.?] : International Monetary Fund, European Dept., 1991 |w (OCoLC)25620728 |
| 830 | 0 | |a IMF working paper ; |v WP/91/126. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/1991/126/001.1991.issue-126-en.xml |y INTERNATIONAL MONETARY FUND |
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