Arbeitspapier
Revisiting the public debt stability condition: Rethinking the Domar condition
This paper revisits the fiscal sustainability condition proposed by Domar (1944). The Domar condition is derived from the government budget constraint and thus focuses on the supply side of the government bond. By considering the demand for the government bond, this paper finds that public debt sustainability depends on interest rate sensitivity to changes in government bond supply and demand. Data shows that the prediction of our model on public debt sustainability is consistent with the cases of Greece and Japan.
- Sprache
-
Englisch
- Erschienen in
-
Series: ADBI Working Paper Series ; No. 1141
- Klassifikation
-
Wirtschaft
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
Fiscal Policy
National Debt; Debt Management; Sovereign Debt
- Thema
-
Domar condition
fiscal sustainability
demand for government bonds
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Yoshino, Naoyuki
Miyamoto, Hiroaki
- Ereignis
-
Veröffentlichung
- (wer)
-
Asian Development Bank Institute (ADBI)
- (wo)
-
Tokyo
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Yoshino, Naoyuki
- Miyamoto, Hiroaki
- Asian Development Bank Institute (ADBI)
Entstanden
- 2020
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