In this paper we deal with the possible options to reduce/stabilize one country’s public debt as well as with the specific factors that public authorities must take into account when selecting among different options for setting up a credible and viable public desindebtedness strategy. We also...

The influence of debt on macroeconomic stability and the ability to restart growth has been a constant concern since the Second World War period. In recent decades, public debt has increased considerably in most countries. Upward trend of public debt was accompanied by an increase in public...

The current paper emphasizes, besides the definitions specific to the public debt concepts, the government public debt and the local public debt, as well as some data related to the gross government debt, in accordance to the European Union methodology, the analysis of influencing the economic...

Among the different criteria used for testing sustainability of public debt, the econometric approach determines whether a government is able to sustain its budget deficits without defaulting on its debt. In this contribution, by linking three different motives proposed respectively by Trehan...

The paper describes the politico-economic context in which the crisis took place, presenting a theoretical framework able to capture the complex dynamics of the politico-economic bargains occurring between OCA countries in general and among Eurozone members in particular. We then proceed to...

In this paper we study the consequences of a hypothetical multi-pillar pension system in Peru. We use unique administrative records of workers to estimate distributions of future pensions for the actual and multi-pillar system and assess the effects on pension inequality, pension liability and...

El profesor Conde describe la evolución que ha tenido la deuda pública desde 1978;y destaca la forma como a partir de 1990, con la implantación de las ideas neoliberalesen el manejo de la política económica, el problema de la deuda se agudiza. Consideraque al consolidarse en el país el...

Contributing to the contentious debate on the relationship between sovereign debt and economic growth, I examine the role of theory-driven (non-)sustainable debt-ratios in combination with debt-ratio thresholds on economic growth. Based on both dynamic and non-dynamic panel data analyses in the...

The purpose of this paper is to convince the reader that the Continental dollar was a zero-interest bearer bond and not a fiat currency--thereby overturning 230 years of scholarly interpretation; to show that the public and leading Americans knew and acted on this fact, and to illustrate the...

This paper develops a model of optimal government debt maturity in which the government cannot issue state-contingent bonds and cannot commit to fiscal policy. If the government can perfectly commit, it fully insulates the economy against government spending shocks by purchasing short-term...