@prefix dcat: <http://www.w3.org/ns/dcat#> .
@prefix dct: <http://purl.org/dc/terms/> .
@prefix foaf: <http://xmlns.com/foaf/0.1/> .
@prefix vcard: <http://www.w3.org/2006/vcard/ns#> .
@prefix xsd: <http://www.w3.org/2001/XMLSchema#> .

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    dct:description """
              In a very interesting endogenous growth model, Futagami, Iwaisako, and Ohdoi [Macroeconomic Dynamics 12 (2008), 445-462] study the long-run growth effect of borrowing for public investment. Their model exhibits (i) the ltiplicity of balanced growth paths (BGPs) in the long run (two steady states) and (ii) a possible indeterminacy of the transition path to the high-growth BGP. The goal of this note is to show that their results depend on a sharp assumption, namely the definition of the public debt target as a ratio to private capital. If the target is defined in terms of public debt-to-GDP ratio, both results vanish: the model exhibits a unique BGP (no multiplicity) and the adjustment path to this unique equilibrium is determinate (no indeterminacy).
            """ ;
    dct:identifier "halshs-00829552" ;
    dct:issued "2026-05-10T21:37:12.900641"^^xsd:dateTime ;
    dct:language "en" ;
    dct:modified "2026-05-10T21:37:12.900646"^^xsd:dateTime ;
    dct:publisher <https://rec.harvest-normandie.data4citizen.com/organization/cce9db95-46d9-4dc2-84b6-764215d0a002> ;
    dct:title "Debt policy rule, productive government spending, and multiple growth paths: a note" ;
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            vcard:fn "CCSD" ] ;
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    dcat:keyword "deficit",
        "endogenous-growth",
        "infoeu-reposemanticsarticle",
        "journal-articles",
        "multiplicity",
        "public-debt",
        "public-investment",
        "shsecohumanities-and-social-scienceseconomics-and-finance" ;
    dcat:landingPage <ISSN:%201365-1005> .

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    dct:issued "2026-05-10T21:37:12.918225"^^xsd:dateTime ;
    dct:modified "2026-05-10T21:37:12.890061"^^xsd:dateTime ;
    dct:title "Debt policy rule, productive government spending, and multiple growth paths: a note" ;
    dcat:accessURL <https://shs.hal.science/halshs-00829552> .

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