and current account deficits, which have in turn driven Greece's foreign indebtedness to alarming levels, necessitating …

This paper proposes a dynamic politico-economic theory of debt, government finance and expenditure. Agents have … choose taxation, government expenditure and debt accumulation through repeated elections. Debt introduces a conflict of … taxes do not distort labour supply, the economy progressively depletes its resources through debt accumulation, leaving …

When debt levels approach critical levels, tax payers may revolt against the associated debtservice burden. Funding … problems may arise in capital markets when lenders anticipate such revolts and refuse to participate in debt auctions. We … stochastic environment is a feedback rule from debt level shocks back to corresponding adjustments in the primary surplus. We …

stabilize its debt through adjustments to purchases and taxes, in that order, with very little stabilization coming through … adjustments to transfer payments. Since 1981, the debt-stabilization motive has almost vanished, while the cyclical behavior of …

a second serious recession in 2011 because of the sovereign debt crisis. The reaction of Italian governments was mild at … the beginning and more convinced since the start of the sovereign debt crisis in 2011. Adopted policies contributed to … Italian economy to reduce the level of public debt and to return to sustained economic growth, which has been very weak for …

For a sample of sixteen OECD countries over the period 1980-2007 we show that, for given debt-GDP ratio, an increase in … the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect … is stronger for countries with higher average inflation or debt. …

, France, Germany, Japan, Netherlands, Sweden, and UK); improvements of the primary balance after past worsening in debt ratios … for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …

also addressing, albeit in a limited way, the larger political issue of the nation's debt and deficit along with the …

Hungary may be caused, however, by a one-time reduction in debt resulting from changes in pension system. …

the government from 2000:Q1 to 2018:Q4 was adequate in addressing the accumulation of huge debt. The analysis of the … stylized facts reveals that the government had continued to run budget deficits for almost the entire period, except for a few … period. The public debt to GDP, which is a major determinant of the primary balance, is negative and significant implying …