America is on the brink of financial collapse. Decades of political overpromising and underfunding have created a wave of debt that could swamp our already feeble economy. And the politicians' favorite tricks--raising taxes, borrowing from foreign governments, and printing more money--will only...

Elevated levels of government debt raise concerns about their effects on long-term growth prospects. Using the cross section of US stock returns, we show that (i) high-R&D firms are more exposed to government debt and pay higher expected returns than low-R&D firms; and (ii) higher levels of the...

This paper analyzes the status of public debt management performance in 17 small states through the findings of the Debt Management Performance Assessment reports. Empirical evidence indicates that the higher the quality of a country's policies and institutions, the better is its capacity to...