Despite its beneficial aspects, public debt can be hazardous for macroeconomic performance should it reach unrepayable levels as a consequence of snowballing ex

Despite its beneficial aspects, public debt can be hazardous for macroeconomic performance should it reach unrepayable levels as a consequence of snowballing ex

The paper offers an approach to assessing the sustainability of public debt taking into account the effect of fiscal policy on output, as well as uncertainty in

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 me

Addressing the Global Financial Crisis required fiscal intervention on a substantial scale by governments around the world. The consequent build up of public de