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Public debt seems to be one of the great issues of the nineties. The United States have turned from the largest creditor of the world to the largest debtor, due

This book studies the sustainability and optimality of public debt under different scenarios: the closed economy, the small open economy, and a two-country sett

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

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

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