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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 me

Addressing the global financial crisis has required fiscal intervention on a substantial scale by governments around the world. The consequent buildup of public

Starting point of this book is the observation that an increase in public debt must be accompanied by a rise in the primary surplus of the government to guarant

As countries recover from the coronavirus pandemic, they are confronted with an even more challenging debt crisis. Xavier Debrun argues in the foreword that in

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