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Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jedc.2004.12.005
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dc.titleSecond-best public debt with human capital externalities
dc.contributor.authorZhang, J.
dc.date.accessioned2011-02-24T06:55:09Z
dc.date.available2011-02-24T06:55:09Z
dc.date.issued2006
dc.identifier.citationZhang, J. (2006). Second-best public debt with human capital externalities. Journal of Economic Dynamics and Control 30 (2) : 347-360. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jedc.2004.12.005
dc.identifier.issn01651889
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/19976
dc.description.abstractThis paper studies optimal public debt in a dynastic model with human capital externalities that cause human capital investment (fertility) to be below (above) its socially optimal level. By reducing fertility and raising human capital investment, the optimal debt can exceed 10% of output for plausible parameterizations.©2005 Elsevier B.V. All rights reserved.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1016/j.jedc.2004.12.005
dc.sourceScopus
dc.subjectExternality
dc.subjectGrowth
dc.subjectOptimal debt
dc.subjectTransitional dynamics
dc.typeArticle
dc.contributor.departmentECONOMICS
dc.description.doi10.1016/j.jedc.2004.12.005
dc.description.sourcetitleJournal of Economic Dynamics and Control
dc.description.volume30
dc.description.issue2
dc.description.page347-360
dc.description.codenJEDCD
dc.identifier.isiut000234960600009
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