The financial crises that had begun as a sub-prime crisis in the USA in 2007 had plunged a
great many economies throughout the world into deep economic recessions. It seemed that …

This paper develops an overlapping generations model with debt-financed public
investment. The model assumes that government is subject to the golden rule of public …

By constructing a two-country endogenous growth model with a debt-financing government,
this paper studies the relationship between the sustainability of public finance and increases …

This study investigates the relationship between the sustainability of public debt and
inequality in an endogenous growth model with heterogeneous agents. We show that the …

We construct a continuous‐time overlapping generations model with an endogenous growth
structure and consider fiscal sustainability under two fiscal rules:(i) the government fixes the …

We construct an endogenous growth model that includes productive public capital and
government debt. We assume that the government debt-to-GDP ratio is gradually adjusted to …

This study investigates expenditure-and tax-based consolidations under the rule of
reductions in debt-to-GDP ratios to the target level and the effects of these consolidations on …

We analyse the effects of public debt in a basic endogenous growth model with productive
public spending. We demonstrate that a discretionary policy in general violates the …

This paper examines the relationship among deficit-financing fiscal policy, risk and
economic growth in a stochastic endogenous growth model with private and public capital …

We construct an endogenous growth model with public capital and endogenous labor
supply and examine quantitatively the welfare effects of fiscal consolidation on the Japanese …