Monetary economy and budget deficit in endogenous growth model
Abstract By an endogenous growth model with two‐period overlapping generations structure and money holding of consumers, we examine the existence of budget deficit in an economy which endogenously grows by investments of firms. The main results are as follows. (1) Budget deficit is necessary for ful...
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| Format: | Article |
| Language: | English |
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Wiley
2023-12-01
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| Series: | International Studies of Economics |
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| Online Access: | https://doi.org/10.1002/ise3.49 |