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The political economy of government debt

Author: Alberto Alesina; Andrea Passalacqua; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2015.
Series: Working paper series (National Bureau of Economic Research), no. 21821.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
This paper critically reviews the literature which explains why and under which circumstances governments accumulate more debt than it would be consistent with optimal fiscal policy. We also discuss numerical rules or institutional designs which might lead to a moderation of these distortions.
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Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Alberto Alesina; Andrea Passalacqua; National Bureau of Economic Research,
OCLC Number: 935521721
Notes: "December 2015"
Description: 1 online resource (74 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 21821.
Responsibility: Alberto Alesina, Andrea Passalacqua.

Abstract:

This paper critically reviews the literature which explains why and under which circumstances governments accumulate more debt than it would be consistent with optimal fiscal policy. We also discuss numerical rules or institutional designs which might lead to a moderation of these distortions.

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