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Migration raises a potential free rider problem for th eprovision of durable local goods if the late-comers can enjoy the public good without paying for it. Allowing communities to finance public goods by debt mitigates this problem, since future immigrants have to share the burden of the debt....
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We study the sustainability of public debt in a closed production economy where a benevolent government chooses fiscal …
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This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation … debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing …
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