{"id":"https://openalex.org/W4376129441","doi":"https://doi.org/10.32388/pgwk3h","title":"Review of: \"Necessity of budget deficit in a growing economy where people hold money and leave a bequest\"","display_name":"Review of: \"Necessity of budget deficit in a growing economy where people hold money and leave a bequest\"","publication_year":2023,"publication_date":"2023-05-11","ids":{"openalex":"https://openalex.org/W4376129441","doi":"https://doi.org/10.32388/pgwk3h"},"language":"en","primary_location":{"id":"doi:10.32388/pgwk3h","doi":"https://doi.org/10.32388/pgwk3h","is_oa":true,"landing_page_url":"http://dx.doi.org/10.32388/pgwk3h","pdf_url":"https://www.qeios.com/read/PGWK3H/pdf","source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":null,"raw_type":"peer-review"},"volume":null,"type":"peer-review","is_traditional":false,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.qeios.com/read/PGWK3H/pdf","any_repository_has_fulltext":null},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5021069578","display_name":"Kcodgoh  Laurents Edgeweblime","orcid":"https://orcid.org/0000-0001-9621-3833","observed_orcids":["https://orcid.org/0000-0001-9621-3833"]},"institutions":[{"id":"https://openalex.org/I4287427","display_name":"University of Lom\u00e9","ror":"https://ror.org/00wc07928","country_code":"TG","type":"education","lineage":["https://openalex.org/I4287427"]}],"countries":["TG"],"is_corresponding":true,"raw_author_name":"Kcodgoh Edgeweblime","raw_affiliation_strings":["Universit\u00e9 de Lom\u00e9"],"raw_orcid":"https://orcid.org/0000-0001-9621-3833","affiliations":[{"raw_affiliation_string":"Universit\u00e9 de Lom\u00e9","institution_ids":["https://openalex.org/I4287427"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5021069578"],"corresponding_institution_ids":["https://openalex.org/I4287427"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.3407999873161316,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.3407999873161316,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.19200000166893005,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.17270000278949738,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/budget-deficit","display_name":"budget deficit","score":0.8059999942779541},{"id":"https://openalex.org/keywords/money-holdings","display_name":"money holdings","score":0.7440000176429749},{"id":"https://openalex.org/keywords/bequests","display_name":"bequests","score":0.9620000123977661},{"id":"https://openalex.org/keywords/full-employment","display_name":"full employment","score":0.7620000243186951},{"id":"https://openalex.org/keywords/overlapping-generations-model","display_name":"overlapping generations model","score":0.8259999752044678},{"id":"https://openalex.org/keywords/ricardian-equivalence","display_name":"Ricardian equivalence","score":0.9869999885559082},{"id":"https://openalex.org/keywords/fiscal-policy","display_name":"fiscal policy","score":0.7689999938011169},{"id":"https://openalex.org/keywords/fiscal-balance","display_name":"budget balance","score":0.8460000157356262},{"id":"https://openalex.org/keywords/recession","display_name":"economic recession","score":0.5149999856948853},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.9229999780654907},{"id":"https://openalex.org/keywords/policy-surprises","display_name":"policy surprises","score":0.5649999976158142},{"id":"https://openalex.org/keywords/growing-economy","display_name":"growing economy","score":0.5019999742507935}],"concepts":[{"id":"https://openalex.org/C2781185075","wikidata":"https://www.wikidata.org/wiki/Q211557","display_name":"Bequest","level":2,"score":0.9737207889556885},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6109579205513},{"id":"https://openalex.org/C45619296","wikidata":"https://www.wikidata.org/wiki/Q17010135","display_name":"Deficit spending","level":3,"score":0.5988731384277344},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.24891090393066406},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.09361928701400757},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.059847503900527954},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.32388/pgwk3h","doi":"https://doi.org/10.32388/pgwk3h","is_oa":true,"landing_page_url":"http://dx.doi.org/10.32388/pgwk3h","pdf_url":"https://www.qeios.com/read/PGWK3H/pdf","source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":null,"raw_type":"peer-review"}],"best_oa_location":{"id":"doi:10.32388/pgwk3h","doi":"https://doi.org/10.32388/pgwk3h","is_oa":true,"landing_page_url":"http://dx.doi.org/10.32388/pgwk3h","pdf_url":"https://www.qeios.com/read/PGWK3H/pdf","source":null,"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":null,"raw_type":"peer-review"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4376129441.pdf","grobid_xml":"https://content.openalex.org/works/W4376129441.grobid-xml"},"referenced_works_count":9,"referenced_works":["https://openalex.org/W1964602365","https://openalex.org/W2047560619","https://openalex.org/W2066430312","https://openalex.org/W2089767832","https://openalex.org/W2093762777","https://openalex.org/W2498183541","https://openalex.org/W2797062887","https://openalex.org/W2992365116","https://openalex.org/W4213354190"],"related_works":["https://openalex.org/W4365138413","https://openalex.org/W4360610224","https://openalex.org/W4312382550","https://openalex.org/W4386727518","https://openalex.org/W4328050243","https://openalex.org/W4389208084","https://openalex.org/W3174453777","https://openalex.org/W4388829877","https://openalex.org/W2206390729","https://openalex.org/W4309915157"],"abstract_inverted_index":{"The":[0],"author":[1,78,116,163],"explores":[2],"the":[3,56,64,77,83,115,122,149,153,162,166,186,196,210,214,238,242,245],"possibility":[4],"of":[5,66,156,188,195,198],"substitutability":[6],"between":[7],"budget":[8,84,104,124],"deficits":[9],"and":[10,13,40,52,55,133,180,213,225,241],"money":[11,38,54,215,243],"holding":[12,39],"bequests":[14],"as":[15,152],"a":[16,24,96,102,141,221,234],"policy":[17,204,230],"tool":[18],"for":[19,135],"achieving":[20],"full":[21,90,110,136],"employment":[22,91,111,137],"in":[23,45,60,69,95,148,248],"growing":[25,97],"economy":[26],"where":[27],"consumers":[28,47],"derive":[29],"utility":[30,58,65,154],"not":[31,106,146,182],"only":[32,75,220],"from":[33,37],"consumption":[34],"but":[35,190],"also":[36],"bequests.The":[41],"overlapping":[42],"generations":[43],"model":[44],"which":[46,61,130,170],"bequeath":[48],"to":[49,80,88,108,118,165,184],"their":[50,67,70],"descendants":[51],"hold":[53],"Barro-type":[57],"function,":[59],"people":[62],"include":[63],"children":[68],"own":[71],"utility.Using":[72],"algebraic":[73],"equations":[74],",":[76],"hopes":[79],"show":[81,119],"that":[82,101,120,129,172],"deficit":[85,125],"is":[86,126,131,160,205],"necessary":[87,132],"maintain":[89],"at":[92,112,138],"constant":[93,113,139],"prices":[94],"economy.Also,":[98],"he":[99],"thinks":[100],"balanced":[103],"would":[105,143],"allow":[107],"reach":[109],"prices.Similarly,":[114],"tries":[117],"if":[121,145],"real":[123],"lower":[127],"than":[128],"sufficient":[134],"prices,":[140],"recession":[142],"occur,":[144],"inflation":[147],"opposite":[150],"case.Insofar":[151],"function":[155],"Robert":[157],"Barro":[158],"(1974)":[159],"concerned,":[161],"refers":[164],"Ricardian":[167],"equivalence":[168],"principle,":[169],"presupposes":[171],"economic":[173,199],"agents":[174,200],"have":[175,233],"an":[176],"infinite":[177],"life":[178],"horizon,":[179],"does":[181],"seem":[183],"consider":[185],"case":[187],"transitory,":[189],"rather":[191],"permanent,":[192],"public":[193],"spending.Because":[194],"rationality":[197],"(Ricardian":[201],"equivalence),":[202],"fiscal":[203],"totally":[206],"inefficient.It":[207],"will":[208],"leave":[209],"aggregate":[211,239],"product":[212,240],"market":[216],"unchanged.In":[217],"this":[218],"respect,":[219],"Bennett":[222],"Mac":[223],"Callum":[224],"John":[226],"Whitaker":[227],"(1979)":[228],"style":[229],"surprise":[231],"could":[232],"small":[235],"effect":[236],"on":[237],"market.Therefore,":[244],"following":[246],"equation,":[247],"particular,":[249],"cannot":[250],"be":[251],"obtained:":[252]},"counts_by_year":[],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2023-05-12T00:00:00"}