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...

At the end of the “Trente Dispendieuses” (three decades of extravagant spending from 1981-2011), French public opinion is gradually waking up to unchecked deficits and public debt. After soaring public spending in the 1980's, the happy-go-lucky ‘90's and excessive use in the 2000's of...