Is deficit finance free when real borrowing rates are routinely lower than growth rates?
Specifically, can the government make all generations better off by perpetually taking from …

This paper characterizes optimal fiscal policy in a growth model with incomplete markets,
heterogeneous agents (households and entrepreneurs), and idiosyncratic productivity risk …

This paper studies the impact of public debt on vacancy creation, wages, and welfare using
a search-and-matching model with ex-ante heterogeneous agents in an incomplete markets …