This paper investigates the long-run effects of public debt and inflation on economic growth. Our contribution is both … over the 1965-2010 period, we find significant negative long-run effects of public debt and inflation on growth. Our … results indicate that, if the debt to GDP ratio is raised and this increase turns out to be permanent, then it will have …

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … revenue losses on inframarginal units of debt that reflect the price impact of these decisions. The model predicts an interior …

’s production side and on welfare, but not on its stock of foreign debt and the country specific risk premium, and large part of the … dynamics and a considerable reduction in foreign debt, allowing higher consumption in the long run and creating an … intertemporal welfare gain, even though unemployment increases strongly in the short run. A 50% haircut of foreign debt …

-free loans through third-party guarantees and relationship lending, but also through modifying loan terms, such as reducing loan … relationship lending and they are more often used by formal financial institutions. …

terrorism than either portfolio investments or external debt flows. Finally, we test the hypothesis that terrorism has negative …