Public Debt, Human Capital Formation, and Dynamic Inefficiency

Berthold Wigger ()

International Tax and Public Finance, 2005, vol. 12, issue 1, 47-59

Abstract: The present paper considers public debt in an economy where human capital formation sustains long-run per capita income growth. It shows that contrary to what has been obtained in other types of endogenous growth economies public debt may benefit current and future generations by removing dynamic inefficiency. Copyright Springer Science + Business Media, Inc. 2005

Keywords: public debt; human capital; endogenous growth (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s10797-005-6394-0

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