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A Note on the Weak Condition of “Globally” Ricardian

Author

Listed:
  • Kazuki Hiraga

    (Faculty of Economics, Keio University)

Abstract

This paper shows that there is the weak “Globally” Ricardian rules that sustains the sustainability of the government debt in the sense that it binds intertemporal government budget constraint. And we compare our result with the former paper about testing the government debt sustainability. As a result, we declare that all of these papers are sufficient condition of our condition.

Suggested Citation

  • Kazuki Hiraga, 2013. "A Note on the Weak Condition of “Globally” Ricardian," Economics Bulletin, AccessEcon, vol. 33(1), pages 361-371.
    • Handle: RePEc:ebl:ecbull:eb-12-00659
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I1-P35.pdf
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    References listed on IDEAS

    as
    1. Hamilton, James D & Flavin, Marjorie A, 1986. "On the Limitations of Government Borrowing: A Framework for EmpiricalTesting," American Economic Review, American Economic Association, vol. 76(4), pages 808-819, September.
    2. Barro, Robert J, 1986. " U.S. Deficits since World War I," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(1), pages 195-122.
    3. Woodford, Michael, 1995. "Price-level determinacy without control of a monetary aggregate," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 43(1), pages 1-46, December.
    4. Henning Bohn, 1998. "The Behavior of U. S. Public Debt and Deficits," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(3), pages 949-963.
    5. Merih Uctum & Michael Wickens, 2000. "Debt and Deficit Ceilings, and Sustainability of Fiscal Policies: an Intertemporal Analysis," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 62(2), pages 197-222, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Globally Ricardian; Sustainability of the Government Debt; Regime Switch;
    All these keywords.

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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