seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

repression in domestic interest rates to avoid an avalanche of foreign capital inflows that would threaten inflation and asset …

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … accommodative monetary policy and deficit spending—generate a debt-financed short-run boom at the expense of indebted demand in the … future. When demand is sufficiently indebted, the economy gets stuck in a debt-driven liquidity trap, or debt trap. Escaping …

Sustainablity of Austrian public debt is investigated in the context of political objectives such as stabilizing the … indicate that Austrian fiscal policies were sustainable in the period 1960-1974, while from 1975 on, public debt grew much more … rapidly. The development of public debt in Austria seems to be driven not primarily by ideology, but by structural causes and …

. Although the extent of government deficits and debt has been one of the most debated macroeconomic issues in recent times, the …

incorporate an external authority that would impartially assess fiscal-policy developments. Using U.S. debt and bond-market data … differentiate state debt according to the level of debt. We thus argue for a fiscal institution??what we call the Fiscal …

the entire interest bill on the U.S. debt. Unit root tests on real series, unscaled by GDP, are distorted by the series … surpluses to fluctuations in the debt-GDP ratio. …