Public Debt, Sustainability and Economic Growth

Theory and Empirics

  • Alfred Greiner
  • Bettina Fincke

Table of contents

  1. Front Matter
    Pages i-xviii
  2. Alfred Greiner, Bettina Fincke
    Pages 1-4
  3. Alfred Greiner, Bettina Fincke
    Pages 5-79
  4. Alfred Greiner, Bettina Fincke
    Pages 81-145
  5. Alfred Greiner, Bettina Fincke
    Pages 147-203
  6. Alfred Greiner, Bettina Fincke
    Pages 205-232
  7. Alfred Greiner, Bettina Fincke
    Pages 233-244
  8. Alfred Greiner, Bettina Fincke
    Pages 245-248
  9. Back Matter
    Pages 249-271

About this book

Introduction

​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.

Keywords

Endogeneous growth Fiscal policy Intertemporal budget constraint Non-parametric estimation Public debt Sustainability

Authors and affiliations

  • Alfred Greiner
    • 1
  • Bettina Fincke
    • 2
  1. 1.Faculty of EconomicsBielefeld UniversityBielefeldGermany
  2. 2.Faculty of EconomicsBielefeld UniversityBielefeldGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-09348-2
  • Copyright Information Springer International Publishing Switzerland 2015
  • Publisher Name Springer, Cham
  • eBook Packages Business and Economics
  • Print ISBN 978-3-319-09347-5
  • Online ISBN 978-3-319-09348-2
  • About this book