The effect of the behavior of an average consumer on the public debt dynamics

Roberto De Luca, Marco Di Mauro, Angelo Falzarano and Adele Naddeo

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Abstract: An important issue within the present economic crisis is understanding the dynamics of the public debt of a given country, and how the behavior of average consumers and tax payers in that country affects it. Starting from a model of the average consumer behavior introduced earlier by the authors, we propose a simple model to quantitatively address this issue. The model is then studied and analytically solved under some reasonable simplifying assumptions. In this way we obtain a condition under which the public debt steadily decreases.

Date: 2017-04
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