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Foreign Debt, Technology and Sustainable Consumption

Allen Yan, Yuri Yatsenko


The paper analyzes the impact of foreign debt on the sustainability of the individual consumption in the general equilibrium open-economy Ramsey model with labor-augmenting technological change. Extensive numeric simulation on the aggregate US data for 2000-2050 is provided. The obtained outcomes show that changes in the consumer behavior can return the economy to sustainable stage. Also, the technological change can partially compensate too large consumer propensity.


general equilibrium, open economy Ramsey model, labor-augmenting technological change, foreign debt, technology, sustainability

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