This paper compiles the Intertemporal Public Sector Balance Sheets for all G7 countries and examines their relationship with government borrowing costs. In 2018, all G7 countries have negative Intertemporal Net Financial Worth (INFW), falling short of their intertemporal budget constraint. A...

Fiscal restraint and deficit reduction have become virtual mantras for all levels of Canadian government in the 1990s, regardless of geographic or political affiliation. An attitude of skepticism toward government spending, borrowing, and taxing has established itself as the political norm and...