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A Note on Public Debt, Tax-Exempt Bonds, and Ponzi Games

A Note on Public Debt, Tax-Exempt Bonds, and Ponzi Games »

Source: A Note on Public Debt, Tax-Exempt Bonds, and Ponzi Games

Volume/Issue: 2007/162

Series: IMF Working Papers

Author(s): Berthold Wigger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

ISBN: 9781451867268

Keywords: tax-exempt bonds, capital taxation, Ponzi game, bonds, public bonds, bond,

By issuing tax-exempt bonds, the government can incur debt and never pay back any principal or interest, even if the economy without public debt evolves on a dynamically efficient growth path. The welfare effects o...

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates »

Source: A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

Volume: 2010

Series: Technical Notes and Manuals

Author(s): Julio Escolano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2010

ISBN: 9781462396955

Keywords: Public debt dynamics, debt ratio, Government budget constraint, Ponzi game, Cyclically adjusted balance, debt, interest, primary balance, interest payments

This paper presents a practical guide to public debt dynamics, fiscal sustainability, and cyclical adjustment of budgetary aggregates. The paper discusses fiscal formulas, which may be of practical use in fiscal an...

A Note on Public Debt, Tax-Exempt Bonds, and Ponzi Games

A Note on Public Debt, Tax-Exempt Bonds, and Ponzi Games »

Volume/Issue: 2007/162

Series: IMF Working Papers

Author(s): Berthold Wigger

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 2007

DOI: http://dx.doi.org/10.5089/9781451867268.001

ISBN: 9781451867268

Keywords: tax-exempt bonds, capital taxation, Ponzi game, bonds, public bonds, bond,

By issuing tax-exempt bonds, the government can incur debt and never pay back any principal or interest, even if the economy without public debt evolves on a dynamically efficient growth path. The welfare effects o...

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates

A Practical Guide to Public Debt Dynamics, Fiscal Sustainability, and Cyclical Adjustment of Budgetary Aggregates »

Volume: 10

Series: Technical Notes and Manuals

Author(s): Julio Escolano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2010

DOI: http://dx.doi.org/10.5089/9781462396955.005

ISBN: 9781462396955

Keywords: Public debt dynamics, debt ratio, Government budget constraint, Ponzi game, Cyclically adjusted balance, debt, interest, primary balance, interest payments

This paper presents a practical guide to public debt dynamics, fiscal sustainability, and cyclical adjustment of budgetary aggregates. The paper discusses fiscal formulas, which may be of practical use in fiscal an...