@techreport{oai:shiga-u.repo.nii.ac.jp:00009859, author = {Kondo, Atsumasa}, issue = {No. B-4}, month = {Jan}, note = {Technical Report, This note studies the relationship between population movement and a government's long-term fiscal health. It use an equilibrium model with dynamic optimization to investigate a situation in which a government repays its fiscal liabilities using tax revenues. The focus is on an upper bound of fiscal liability, which is compatible with a No-Ponzi-game condition. The investigation deals, in particular, with how the upper bound depends on population size, population growth rate and primary fiscal balance per person., CRR Discussion Paper, Series B, No. B-4, pp. 1-14 (No. B-3改訂版)}, title = {A Note on Public Debt Sustainability in an Economy with Declining Fertility (Revised version)}, year = {2012} }