To fulfil their tasks, governments rely on public expenditures and taxes. Both influence the incentives and shape the decisions and actions of private economic agents. As governments resort to both instruments simultaneously, their combined theoretical impact on economic performance is a priori...

To fulfil their tasks, governments rely on public expenditures and taxes. Both influence the incentives and shape the decisions and actions of private economic agents. As governments resort to both instruments simultaneously, their combined theoretical impact on economic performance is a priori...

Ádám Török has presented a thorough analysis of the problems associated with excessive public debt, focusing on the position of Eastern countries with special emphasis on Hungary. Recent experiences with debt problems in euro countries corroborate Török's position that a, "100 per cent...