Wealth effects, treasury bill financing, perpetuity financing, and stability |
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| Authors: | Yeung-Nan Shieh |
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| Affiliation: | 1. Faculty of Engineering, University of Porto, Porto, Portugal;2. LTPlabs, Porto, Portugal;3. INESC TEC, Faculty of Engineering, University of Porto, Porto, Portugal |
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| Abstract: | This note re-examines the stabilities of government financing by (a) treasury bills, and (b) perpetuities. In contrast to Currie and Gazioglou, it is shown that the wealth effect on expenditures plays the same role in the financing by treasury bills and by perpetuities. |
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