オガワ　タカユキ   OGAWA Takayuki
  小川　貴之
   所属   大阪経済大学  経済学部 経済学科
   職種   教授
言語種別 英語
発行・発表の年月 2010/09/01
形態種別 その他
標題 Public Debt Places No Burden on Future Generations under Demand Shortage
執筆形態 共著
掲載誌名 Institute of Social and Economic Research Discussion Papers, Osaka University, No. 791
著者・共著者 Takayuki Ogawa and Yoshiyasu Ono
概要 In a Diamond-type overlapping-generations setting public debt issuance places no burden on future generations including those who repay the debt if prices and wages are fixed and unemployment occurs in the periods in which public bonds are issued and repaid. Whether the collected fund is spent on government purchases or transfers to the present generation, public bond issuance stimulates aggregate demand and creates additional employment of future generations, which yields additional income that is large enough to cover their tax burden. This property is true whether the debt is repaid by children or grandchildren.
DOI https://dx.doi.org/10.2139/ssrn.1680693
researchmap用URL https://www.iser.osaka-u.ac.jp/ja/research/outcomes/dp