Some of the phenomena where the “globalization” concept is applied include the internationalization of markets, globalization of culture, polítical hegemony of world by some states, or groups of states, the increasing power of supranational institutions, and the development of a global...

Le thème choisi pour ces Journées 2 est un vrai défi pour les chercheurs en histoire moderne, notamment pour les chercheurs portugais. Ceux qui font des recherches sur les débuts de l'époque moderne, c'est-à-dire, les XVème, XVIème, XVIIème et XVIIIème siècles, s'aperçoivent des...

We introduce public debt in a Ramsey model with heterogenous agents and a public spending externality affecting utility which is financed by income tax and public debt. We show that public debt considered as a fixed portion of GDP can have a stabilizing or destabilizing effect depending on some...

Some recent evidence on government finance statistics of European countries suggests that countries with public debt issues also show a low tax revenue-GDP ratio. In this paper we develop a small open economy model of endogenous growth in which the engine of growth is public spending. We assume...

Imposing some constraints on public debt is often justified regarding sustainability and stability issues. This is especially the case when the ratio of public debt over GDP is restricted to be constant. Using a Ramsey model, we show that such a constraint can however be a fundamental source of...

This article analyzes the consequences on capital accumulation and environmental quality of environmental policies financed by public debt. A public sector of pollution abatement is financed by a tax and/or public debt. We show that if the initial capital stock is high enough, the economy...