Public indebtedness, growth, currency and inflation: comment on “Pleasant Mathematics”, by Gerson Lima

Fabrício Leite (), Gustavo Aggio () and Eduardo Angeli ()

Brazilian Journal of Political Economy, 2009, vol. 29, issue 4, 473-483

Abstract: The paper aims at analyzing the article by Gerson Lima on the manner by which fiscal deficit should be covered. It presents a more general dynamic model, where the principle of effective demand is explicitly used. By doing that, it is possible to treat as endogenous variables the national income and the government entries, what brings the result that the public debt must not follow an explosive path unless the very restrictive conditions of Lima's paper prevail. It also evaluates Lima's implicit inflation theory, and argues against his approximation to Friedman's framework. JEL Classification: E5; E6.

Keywords: public debt; monetary policy; money issuing (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:29:y:2009:i:4:p:473-483:id:509

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