The Resource Dynamic efficiency, the rickless rate and debt : Ponzi games under uncertainty, Olivier Blanchard [and] Philippe Weil., (electronic resource)

Dynamic efficiency, the rickless rate and debt : Ponzi games under uncertainty, Olivier Blanchard [and] Philippe Weil., (electronic resource)

Label
Dynamic efficiency, the rickless rate and debt : Ponzi games under uncertainty
Title
Dynamic efficiency, the rickless rate and debt
Title remainder
Ponzi games under uncertainty
Statement of responsibility
Olivier Blanchard [and] Philippe Weil.
Title variation
Ponzi games under uncertainty
Creator
Contributor
Provider
Language
eng
Summary
In a dynamically efficienct economy, can a government roll its debt forever and avoid the need to raise taxes? In a series of examples of production economies with zero growth, this paper shows that such Ponzi games may be infeasible even when the average rate of return on bonds is negative, and may be feasible even when the average rate of return on bonds is positive. The paper then reveals the structure which underlies these examples. Keywords: Dynamic efficiency, pareto optimality, bubbles, Ponzi games, public debt, riskless rate
Member of
Additional physical form
Abstract in HTML and working paper for download in PDF available via World Wide Web at the Social Science Research Network.
Cataloging source
MYG
http://library.link/vocab/creatorName
Blanchard, Olivier
Funding information
Supported in part by the National Science Foundation.
Index
no index present
Literary form
non fiction
Nature of contents
  • bibliography
  • technical reports
http://library.link/vocab/relatedWorkOrContributorName
  • Weil, Philippe
  • Massachusetts Institute of Technology
  • Internet Archive
Series statement
Working paper
Series volume
01-41
Label
Dynamic efficiency, the rickless rate and debt : Ponzi games under uncertainty, Olivier Blanchard [and] Philippe Weil., (electronic resource)
Instantiates
Publication
Note
  • Title from cover
  • "November 2001."
Bibliography note
Includes bibliographical references (p. 19-21)
Dimensions
28 cm.
Extent
21 p.
Form of item
regular print reproduction
Specific material designation
remote
System control number
  • (OCoLC)49800527
  • (CaSfIA)dynamicefficienc00blan
  • (CaSfIA)001040536
Label
Dynamic efficiency, the rickless rate and debt : Ponzi games under uncertainty, Olivier Blanchard [and] Philippe Weil., (electronic resource)
Publication
Note
  • Title from cover
  • "November 2001."
Bibliography note
Includes bibliographical references (p. 19-21)
Dimensions
28 cm.
Extent
21 p.
Form of item
regular print reproduction
Specific material designation
remote
System control number
  • (OCoLC)49800527
  • (CaSfIA)dynamicefficienc00blan
  • (CaSfIA)001040536

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