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Books > Business & Economics > Economics > Macroeconomics
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Public Debt, Sustainability and Economic Growth - Theory and Empirics (Hardcover, 2015 ed.)
Loot Price: R3,058
Discovery Miles 30 580
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Public Debt, Sustainability and Economic Growth - Theory and Empirics (Hardcover, 2015 ed.)
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Total price: R3,078
Discovery Miles: 30 780
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Public debt has become a severe problem for a great many economies.
While the effects of tax policies on the allocation of resources
are readily derived, the mechanisms that make public deficits and
debt influence the economy are not so easily understood. This book
elaborates on the effects of public debt starting from the
intertemporal budget constraint of the government. It is shown
under which conditions a government can stick to the intertemporal
budget constraint and then, demonstrated how public debt affects
the growth process and welfare in market economies. The effects are
derived for models with complete labor markets as well as taking
into account labor market imperfections. The focus in this book is
on fiscal policy issues, but it also deals with monetary policy
aspects. The theoretical analysis is complemented with empirical
time series analyses on debt sustainability and with panel studies
dealing with the relationship between public debt and economic
growth.
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