Research Discussion Paper – RDP 8809 The Intertemporal Government Budget Constraint and Tests for Bubbles

Contents

• Introduction
• The Intertemporal Government Budget Constraint
• Testing for Bubble Financing
• Empirical Evidence
• Conclusion
• Appendix 1: Data Sources
• References
• Figures and Tables

We would like to thank Warwick McKibbin, Dirk Morris, Malcolm Edey, Rob Trevor and participants at the 16th Autralian Conference of Economists for helpful discussions. The views expressed are those of the authors and should not be interpreted as views of the Reserve Bank of Australia.