Sustainability of the public debt and wealth inequalitin in a general equilibrium modely

Konishi, Kunihiko; Maebayashi, Noritaka

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論文情報

タイトル	Sustainability of the public debt and wealth inequalitin in a general equilibrium modely
著者	Konishi, Kunihiko Konishi, Kunihiko
著者	Maebayashi, Noritaka Maebayashi, Noritaka
キーワード等	Fiscal sustainability
	Public debt
	Wealth inequality
	Redistributive policy
	Endogenous growth
抄録	This study investigates the correlation between sustainability of the public debt and wealth inequality in an endogenous growth model with heterogeneous agents. We show that the threshold for the sustainability of public debt can be related to not only relative size of public debt but also wealth inequality. In addition, this study examines the effects of budget deficit and redistributive policies on the sustainability of the public debt and wealth inequality. We show that an increase in the deficit ratio or the redistributive tax makes the public debt less sustainable. If the economy falls into the unsustainable region as a result of the policy change, both public debt and wealth inequality continue to increase.
公開者	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
掲載誌名	Discussion Papers In Economics And Business
巻	16-33
開始ページ	1
終了ページ	34
刊行年月	2016-12
URL	http://hdl.handle.net/11094/58824
関連情報 (references)	http://www2.econ.osaka-u.ac.jp/library/global/dp/1633.pdf
言語	英語

著者版フラグ	none
NII資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
dcmi資源タイプ	text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business.16-33 P.1-P.34
DC.title	Sustainability of the public debt and wealth inequalitin in a general equilibrium modely
DC.creator	Konishi, Kunihiko
DC.creator	Maebayashi, Noritaka
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
DC.language" scheme="DCTERMS.RFC1766	英語
DCTERMS.issued" scheme="DCTERMS.W3CDTF	2016-12
DC.identifier" scheme="DCTERMS.URI	http://hdl.handle.net/11094/58824
DC.subject	Fiscal sustainability
	Public debt
	Wealth inequality
	Redistributive policy
	Endogenous growth
DCTERMS.abstract	This study investigates the correlation between sustainability of the public debt and wealth inequality in an endogenous growth model with heterogeneous agents. We show that the threshold for the sustainability of public debt can be related to not only relative size of public debt but also wealth inequality. In addition, this study examines the effects of budget deficit and redistributive policies on the sustainability of the public debt and wealth inequality. We show that an increase in the deficit ratio or the redistributive tax makes the public debt less sustainable. If the economy falls into the unsustainable region as a result of the policy change, both public debt and wealth inequality continue to increase.
citation_title	Sustainability of the public debt and wealth inequalitin in a general equilibrium modely
citation_author	Konishi, Kunihiko
citation_author	Maebayashi, Noritaka
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP) Osaka University
citation_language	英語
citation_date	2016-12
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	16-33
citation_firstpage	1
citation_lastpage	34
citation_public_url	http://hdl.handle.net/11094/58824
citation_keywords	Fiscal sustainability
	Public debt
	Wealth inequality
	Redistributive policy
	Endogenous growth

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