Inequality and public debt: A positive analysis
Inequality and public debt: A positive analysis
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不平等与公共债务：实证分析
DOI：
10.1111/roie.12299
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发表时间：
2017
影响因子：
1
通讯作者：
Ryo Arawatari and Tetsuo Ono
中科院分区：
文献类型：
--
作者：
Ryo Arawatari;Takeo Hori;and Kazuo Mino;Ryo Arawatari and Tetsuo Ono
本研究扩展了财政政策的多国政治经济模型，将各国内部的工资不平等纳入其中。在这个扩展框架中，我们提出了代内和代际间财政政策的冲突，并表明低不平等国家实现紧缩的财政政策，公共债务积累较低，而高不平等国家则实行宽松的财政政策，公共债务较高。该模型预测与 OECD 国家 1980 年至 2010 年的经验证据一致。
This study extends the multi‐country, politico‐economic model of fiscal policy to incorporate wage inequality within each country. In this extended framework, we present conflict over fiscal policy within and across generations and show that a low‐inequality country realizes tight fiscal policy with low public debt accumulation, whereas a high‐inequality country experiences loose fiscal policy with high public debt. This model prediction is consistent with empirical evidence from OECD countries for the years 1980 to 2010.