Bonding in Europe
GE, Growth, Math methods from EconWPA
Time is ripe to look at the bonding institutions of Europe in a different way: as instruments able to change the internal dynamics of an economic system. These institutions will put a country attracted by a low and stable equilibrium output onto a path of economic growth. Questions such as under what circumstances these institutions can be created and whether their result, a new and higher output level, is stable are also addressed. Once in place they need not be eternal: when an economy reaches full employment, they might be dismantled because they use too much of the public funds.
Keywords: growth; bonding; Europe; bifurcations; government (search for similar items in EconPapers)
JEL-codes: C6 D5 D9 (search for similar items in EconPapers)
Note: Type of Document - pdf; pages: 21
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpge:0510004
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