Persson extends Diamond's (1965) overlapping-generations model of public debt to open economies, asking how a one-time, debt-financed tax cut to the currently young generation redistributes welfare …
This 1984 Journal of Monetary Economics paper by Torsten Persson (circulated as IIES Seminar Paper No. 237, February 1983) asks whether the "monetary approach to the balance of payments" (MABOP) …