Welfare-Improving Debt Policy under Monopolistic Competition

Partha Sen

No 94-07, EPRU Working Paper Series from Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics

Abstract: In this paper a model of monopolistic competition is used to show that debt-policy could be welfare-improving for all generations. Debt crowds out capital but that is welfare-improving because capital accumulation is immiserizing.

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Journal Article: Welfare-improving debt policy under monopolistic competition (2002)
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