全球智库信息集成服务系统(G2TT): Sovereign Debt Risk Premia and Fiscal Policy in Sweden

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w15810
来源ID	Working Paper 15810
	Sovereign Debt Risk Premia and Fiscal Policy in Sweden
	Huixin Bi; Eric M. Leeper
发表日期	2010-03-11
出版年	2010
语种	英语
摘要	This paper takes a step toward providing a general equilibrium framework within which to study the nub of the current fiscal debate around the world: what are the tradeoffs between short-run stabilization and long-run sustainability when the perceived riskiness of government debt depends, in part, on the current and expected fiscal environment in place? We calibrate a simple model to Swedish fiscal data in two periods: before and after the financial crisis of the early 1990s. We compute the dynamic fiscal limit, which depends on the peak of the Laffer curve, for the pre-crisis and three alternative post-crisis fiscal policies. The model simulates the macroeconomic consequences of alternative policies in the face of the sequence of bad output shocks that Sweden experienced from 1991-1997.
主题	Macroeconomics ; Fiscal Policy ; Public Economics ; Taxation ; National Fiscal Issues
URL	https://www.nber.org/papers/w15810
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/573485
推荐引用方式 GB/T 7714	Huixin Bi,Eric M. Leeper. Sovereign Debt Risk Premia and Fiscal Policy in Sweden. 2010.