Endogenous longevity,public debt and endogenous growth |
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Authors: | Akira Kamiguchi |
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Affiliation: | Faculty of Economics, Kindai University, Osaka, Japan |
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Abstract: | This study explores the mechanism that causes an inverted U-shaped relationship between the public debt to GDP ratio and the economic growth rate which is observed in empirical studies. We show that this relationship is caused even when the government does not introduce the golden rule of public finance, and government health care expenditure has important role in generating this relationship. |
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Keywords: | Endogenous longevity public debt endogenous growth |
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