The impact of financial openness on public debt in developing countries
Sign Up to like & getrecommendations! Published in 2020 at "Empirical Economics"
DOI: 10.1007/s00181-020-01839-x
Abstract: This article studies the impact of international financial openness on the public debt-to-output ratio in a representative sample of 37 developing countries from 1970 to 2015. We find that it is important to distinguish between… read more here.
Keywords: openness public; public debt; financial openness; country ... See more keywords
Determinants of substantial public debt reductions in Central and Eastern European Countries
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DOI: 10.1007/s10663-021-09529-2
Abstract: Government debt development is a timeless issue in economics that has gained even more attention in light of the global financial crisis and the Covid 19 pandemic crisis. The following paper uses several specifications of… read more here.
Keywords: debt; reductions central; debt reductions; central eastern ... See more keywords
Does fiscal stance affect inflation expectations? Evidence for European economies
Sign Up to like & getrecommendations! Published in 2020 at "Economic Analysis and Policy"
DOI: 10.1016/j.eap.2020.09.010
Abstract: Abstract According to the fiscal theory of the price level, in a non-Ricardian regime, high public debt should lead to a price-level increase so as to fulfill intertemporal government budget constraint. Forward-looking agents should anticipate… read more here.
Keywords: inflation; inflation expectations; fiscal stance; public debt ... See more keywords
Saving, fertility and public policy in an overlapping generations small open economy
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DOI: 10.1016/j.econmod.2018.12.003
Abstract: Abstract Motivated by the recent increase of public debt experienced by many developed countries, we develop an OLG model to provide the fiscal policies needed for any public debt level to be sustainable in steady… read more here.
Keywords: small open; fertility; open economy; saving fertility ... See more keywords
Public debt expansions and the dynamics of the household borrowing constraint
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DOI: 10.1016/j.red.2019.11.002
Abstract: Contrary to a well-established view, public debt expansions may tighten the household borrowing constraint over time. Within an incomplete-markets model featuring an endogenous borrowing limit, we show that plausible debt-financed fiscal policies generate such tightening… read more here.
Keywords: debt expansions; debt; household borrowing; public debt ... See more keywords
The public debt and the Ricardian equivalence: Some critical remarks
Sign Up to like & getrecommendations! Published in 2021 at "Structural Change and Economic Dynamics"
DOI: 10.1016/j.strueco.2021.05.006
Abstract: Abstract The paper criticizes the so-called Ricardian Equivalence (RE) and its implications for the analysis of the problem of the public debt. The RE hinges on a view of the economic role of the state… read more here.
Keywords: debt ricardian; debt; ricardian equivalence; public debt ... See more keywords
RAMSEY OPTIMAL POLICY IN THE NEW-KEYNESIAN MODEL WITH PUBLIC DEBT
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DOI: 10.1017/s136510052000070x
Abstract: In the discrete-time new-Keynesian model with public debt, Ramsey optimal policy eliminates the indeterminacy of simple-rules multiple equilibria between the fiscal theory of the price level versus new-Keynesian versus an unpleasant equilibrium. If public debt… read more here.
Keywords: new keynesian; optimal policy; debt; public debt ... See more keywords
Marx on Public Debt: Fiscal Expropriation and Capital Reproduction
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DOI: 10.1080/08911916.2017.1310474
Abstract: Abstract Marx devoted little attention to the functions of the State (and, particularly, to the role of public debt) in the capitalist system, and in more recent times, little attention has been devoted to this… read more here.
Keywords: debt; reproduction marx; public debt; capital reproduction ... See more keywords
Is social expenditure responsible for recent rise in public debt in OECD countries?
Sign Up to like & getrecommendations! Published in 2018 at "Applied Economics Letters"
DOI: 10.1080/13504851.2017.1293778
Abstract: ABSTRACT In developed economies, social expenditure is alleged to cause the rise in public debt over the last three decades. With dynamic panel data of 34 OECD countries from 1980 to 2014, we find robust… read more here.
Keywords: rise public; social expenditure; public debt;
Endogenous longevity, public debt and endogenous growth
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DOI: 10.1080/13504851.2018.1557318
Abstract: ABSTRACT This study explores the mechanism that causes an inverted U-shaped relationship between the public debt to GDP ratio and the economic growth rate which is observed in empirical studies. We show that this relationship… read more here.
Keywords: endogenous longevity; public debt; debt endogenous; longevity public ... See more keywords
Public debt and inflation: empirical evidence from Ghana
Sign Up to like & getrecommendations! Published in 2021 at "Development Studies Research"
DOI: 10.1080/21665095.2021.1872392
Abstract: ABSTRACT This paper investigates the impact of public debt on inflation in Ghana using annual data during the period 1983–2018. The study uses the Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration and an… read more here.
Keywords: debt; debt inflation; inflation empirical; public debt ... See more keywords