Necessity of Budget Deficit Under Economic Growth in Monopolistic Competition
The aim of the paper is to show, using a simple two-period overlapping generations model in which goods are produced solely by labour in a monopolistically competitive industry, that a continuous budget deficit (including the interest payments on government bonds) is necessary to achieve and maintai...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Riga Technical University Press
2022-01-01
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| Series: | Economics and Business |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/eb-2022-0001 |
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