We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different … mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …

analysis showing that aid does not affect spending and that aid shortfalls are instead systematically compensated with domestic … commitments by substituting domestic debt for aid. Thus, the economic costs of sanctions do not necessarily translate directly …

Debt can increase economic growth as it allows the households and firms to increase consumption and investment. However …