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Sustainability of Public Debt
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Sustainability of Public Debt

Reinhard Neck and Jan-Egbert Sturm

Abstract

In recent decades, governments have built up substantial public debt, which is often accompanied by a growing public sector and fiscal policies that neglect long-term considerations. The contributors to this CESifo volume consider whether the development of public debt in the United States and six EU countries is sustainable—that is, whether fiscal policies in these countries can be continued without creating the potential for government bankruptcy. The sustainability of public debt presents a challenge not only to public policy design but also to economic theory. This collection is a book-len ... More

Keywords: public debt, public sector, fiscal policies, government bankruptcy, public debt sustainability, economic theory, budgetary policies, fiscal criteria, European Monetary Union, Stability and Growth

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780262140980
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262140980.001.0001

Authors

Affiliations are at time of print publication.

Reinhard Neck, editor

Jan-Egbert Sturm, editor

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