期刊名称：Discussion Paper / Département des Sciences Économiques de l'Université Catholique de Louvain
印刷版ISSN：1379-244X
出版年度：1999
期号：1
出版社：Université catholique de Louvain
摘要：We analyze the effect of a constant debt policy on capital accumulation and provide an in-depth treatment of the dynamics in the economy of Diamond. We derive the conditions for avoiding a debt crisis in both the short-run and the long-run and provide geometrical tools to analyze the issue of sustainability. There is always a level of debt ensuring that any level of capital between 0 and an upper limit, and in particular the Golden rule equilibrium, exists as a steady-state equilibrium, yet it is not necessarily stable. We also discuss poverty trap issues.
关键词：debt; sustainability; over-accumulation; Golden rule; poverty trap
