Government Ponzi Games and Debt Dynamics Under Uncertainty /
We investigate the conditions for sustainability of debt roll-over schemes under uncertainty. In contrast with the requirements identified in recent research, we show that a necessary and sufficient condition for sustainability of such schemes is that the asymptotic interest rate on government debt...
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| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
1991.
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| 丛编: | IMF Working Papers; Working Paper ;
No. 1991/126 |
| 在线阅读: | Full text available on IMF |