The Political Economy Of Government Debt

The Political Economy Of Government Debt

by H. A. A. Verbon
     
 

This analysis of the political economy of government debt is divided into two parts. The first part deals with theoretical issues. Topics covered include: behavioral aspects; long term debt strategy; the political economy of redistribution; a model of intergenerational redistribution; the relationship between social security and the deficit in the US; the consequences… See more details below

Overview

This analysis of the political economy of government debt is divided into two parts. The first part deals with theoretical issues. Topics covered include: behavioral aspects; long term debt strategy; the political economy of redistribution; a model of intergenerational redistribution; the relationship between social security and the deficit in the US; the consequences of endogenous technology; and budgetary and monetary issues related to European integration. The second part of the volume concerns empirical applications, including the empirical relevance of the notion of debt neutrality; the management of the nominal government debt; the global linkages between interest rates and public debt; functional finance; some positive theories of government debt; and suggestions for fiscal indicators.

Product Details

ISBN-13:
9780444890528
Publisher:
Emerald Group Publishing
Publication date:
07/01/1993
Series:
Contributions to Economic Analysis
Pages:
340
Product dimensions:
6.14(w) x 9.21(h) x 0.81(d)

Related Subjects

Table of Contents

Preface
Pt. ITheoretical Issues
Ch. 1The Political Economy of Government Debt: A Survey3
Ch. 2Long Term Debt Strategy: A Survey37
Ch. 3The Politics of Intergenerational Redistribution69
Ch. 4Social Security and the Deficit in the US: A Political Economy Approach89
Ch. 5Endogenous Technology, Budgetary Regimes and Public Debt113
Ch. 6Economic and Monetary Union in Europe and Constraints on National Budgetary Policies137
Ch. 7Monetary Discipline and the Real Value of Government Debt: The Case for an Independent Eurofed157
Pt. IIEmpirical Applications
Ch. 8The Determinants of the Ricardian Equivalence in the OECD Countries181
Ch. 9Debt Neutrality, Finite Horizons, and Private Savings Behavior195
Ch. 10Management of the Nominal Public Debt: Theory and Applications207
Ch. 11Interest Rates and Government Debt: Are the Linkages Global rather than National?233
Ch. 12Self-Correcting Real Deficits: A New Lesson in Functional Finance255
Ch. 13Positive Theories of Public Debt: Some Evidence for Germany295
Ch. 14Suggestions for a New Set of Fiscal Indicators307

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