Question
Simplify the change rate of the debt ratio equation, , using the expression for the debts growth rate, = Growth rate of deficit = Growth
Simplify the change rate of the debt ratio equation, 
, using the expression for the debts growth rate, 
= Growth rate of deficit
= Growth rate of the debt
= growth rate
= Central Government debt
= Government Expenditure
= Taxes minus trasnfers
9d = 9D 9Y 9D 9d = 9D 9Y 9D
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International Financial Management
Authors: Geert Bekaert, Robert J. Hodrick
4th International Edition
013284298X, 9780132842983
