Eurosystem stability: A stochastic dynamic optimization approach to public debt

Bernardo Maggi

Socio-Economic Planning Sciences, 2023, vol. 90, issue C

Abstract: In this paper we focus on the dynamics of tax revenue and debt that should be necessary for the European countries to comply with the rules on which the Stability and Growth Pact (SGP) is founded, when public budgets are expounded to unexpected expenses.

Keywords: Public debt and tax revenue; Stochastic control; Discrete Riccati equation; Long run equilibrium (search for similar items in EconPapers)
JEL-codes: C61 F36 H63 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceps:v:90:y:2023:i:c:s0038012123002458

DOI: 10.1016/j.seps.2023.101733

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