3 edition of The Economics of public debt found in the catalog.
by Macmillan in association with the International Economic Association in Basingstoke
Written in English
Includes bibliographies and index.
|Statement||edited by Kenneth J. Arrow and Michael J. Boskin.|
|Contributions||Arrow, Kenneth J. 1921-, Boskin, Michael J., 1945-, International Economic Association.|
|The Physical Object|
|Number of Pages||317|
In the dominant economic policy generally ascribed to theories of John Maynard Keynes, sometimes called Keynesian economics, there is tolerance for fairly high levels of public debt to pay for public investment in lean times, which, if boom times follow, can then be paid back from rising tax revenues. Empirically, however, sovereign borrowing in developing countries is procyclical, since developing . Public Principles of Public Debt is one of James M. Buchanan’s most important and influential books. The radical idea he conceived was that our reliance on public debt has amassed a sort of orthodoxy that is commonly—and needlessly—assumed by taxpayers, by politicians, and by economists themselves.
As Europe proceeds towards economic and monetary union, fiscal convergence and the prospect of a common money are at the centre of discussion. This volume from the Centre for Economic Policy Research brings together theoretical, applied and historical research on the management of public debt and its implications for financial stability. Dr. Richard M. Salsman’s book is an intellectual laser beam that offers clarity and precision in an important but neglected area of political and economic thought: public debt theory. The book’s title indicates the ambitious scope of the project, and the result matches the ambition. The book is engagingly written and structured in a concise, intuitive manner that traces the development of public .
According to the report, debt held by the public will rise dramatically in the coming decades, reaching percent of GDP by The below graph shows the projected increase of the federal debt held by the public from (dashed line) through under CBO's extended baseline. The public debt is the amount of money that a government owes to outside debtors. Public debt allows governments to raise funds to grow their economy or pay for services. Politicians prefer to raise public debt rather than raise taxes. When public debt reaches 77% of GDP or higher, the debt begins to slow growth.
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The Economics of Public Debt: Proceedings of a Conference held by the International Economic Association at Stanford, California (International Economic Association Series) 1st ed. Edition. by Kenneth J. Arrow (Editor), Michael J.
Boskin (Series Editor) ISBN Format: Paperback. Usually dispatched within 3 to 5 business days. Usually dispatched within 3 to 5 business days. A collection of essays presenting new insights into the analysis of public debt theory, recent historical episodes, econometric analyses and policy dilemmas and options.
'The Political Economy of Public Debt is an insightful treatment of all the major theories and controversies regarding public debt since the s. The author, moreover, is no axe grinder; to the contrary, he presents a fair and balanced narrative that will prove informative to all interested readers.' --(Richard Wagner, George Mason University, US)5/5(8).
This volume presents a selection of contributions to the XXIV Villa Mondragone International Economic Seminar on “Public debt, global governance and economic dynamism”.
For the past 23 years, the Seminar has provided an ideal opportunity to meet and discuss the most topical issues in economic Format: Hardcover. A collection of essays presenting new insights into the analysis of public debt theory, recent historical episodes, econometric analyses and policy dilemmas and options.
It also documents the perceptions of debt problems from viewpoints of national economies as well as the world economy. Lemieux clearly and convincingly explains why and then lays out the probable consequences. His book, The Public Debt Problem, contains enough overwhelming evidence and analysis to give all but the most stubborn fiscal-crisis The Economics of public debt book second thoughts." - Jeff Hummel, Associate Professor of Economics, San José State University, USA/5(5).
The Economics of Public Debt by Kenneth J. Arrow,available at Book Depository with free delivery worldwide.4/5(1). 2 Public Debt and the Economics of David Ricardo 21 Introduction 21 Public debt and resource allocation 22 Public debt and economic growth 32 Optimal taxation 43 Conclusion 46 3 Public Debt Policy and Public Extravagance: the Ricardo–Malthus Debate 49 Introduction 49 Ricardo, politics and government Public Debt and Economic Growth in Advanced Economies Swiss Journal of Economics and Statistics,Vol.
(2) labor supply, public debt has a negative effect on labor supply, investment, and economic growth. In the presence of wage rigidities and unemployment, instead. Public Principles of Public Debt is one of James M. Buchanan’s most important and influential books. The radical idea he conceived was that: our reliance on public debt has amassed a sort of orthodoxy that is commonly—and needlessly—assumed by taxpayers, by politicians, and by economists by: of course was very considerably engaged in policy debates prior to the s, including public debt issues.
Indeed, The Economic Consequences of the Peace () – the book that first made Keynes a major public figure in policy debates – was about sustainability of public or national debt. As Europe proceeds towards economic and monetary union, fiscal convergence and the prospect of a common money are at the centre of discussion.
This volume from the Centre for Economic Policy Research brings together theoretical, applied and historical research on the management of public debt and its implications for financial by: Drawing on the work of James Buchanan, particularly his book Public Principles of Public Debt: A Defense and Restatement, Boudreaux argues that there is a burden of the debt.
As at end-Marchpublic debt reached at Rs, billion, an increase of Rs billion or 8 percent higher than the debt stock at the end of last fiscal year. Public debt as a percent of GDP reached at percent of GDP by end-March compared to percent during the same period last year.
The primary source of increase in public File Size: KB. public debt affect the allocation of resources and that are not so easily understood as the economic effects of distortionary taxation. Our book partly builds on File Size: 4MB. Public debt can be raised both externally and internally, where external debt is the debt owed to lenders outside the country and internal debt represents the government’s obligations to domestic lenders.
Public debt is an important source of resources for a government to finance public spending and fill holes in the budget. In most of this book the term “public debt” will be used to refer to what has been borrowed by all these central and local administrations, often referred to as general government, usually.
The sustainability of public debt presents a challenge not only to public policy design but also to economic theory. This collection is the first book-length analysis of the theoretical foundations of public debt sustainability concepts and their application to the empirical study of actual budgetary policies.
Still, the minor quibbles should in no way be taken as a reason for readers to not purchase The Political Economy of Public Debt. Richard Salsman has written an endlessly excellent book. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists : Richard M.
Salsman. Classical Economists and Public Debt Article (PDF Available) in International Review of Economics 54(1) August w Reads How we measure 'reads'Author: Lefteris Tsoulfidis.Public debt and fiscal deficits rose sharply in several advanced economies after the global financial crisis, in response to both expansionary fiscal policies and policies aimed at stabilizing financial systems.
To put in perspective the magnitude of this recent surge in debt, it is useful to examine Bohn's historical dataset of public debt and primary balances for the United States.Basu, Kaushik (), Analytical Development Economics: The Less Developed Economy Revisited, The MIT Press.
Bird, Graham (), International Finance and the Developing Economies, Palgrave Macmillan. Bell, Crive (), Development Policy as Public Finance, Oxford University Press Gale, Douglas (), “The Efficient Design of Public Debt,” in Franklin Allen and D.