Barro, R.J. (1974), ‘Are Government Bonds Net Wealth?,’Journal of Political Economy, 82, pp.

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(ed.) — (1985), ‘A Guide to Public Sector Debt and Deficits,’Economic Policy, 1, pp. Kormendi, R.C.

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Brunner, K. (1984), ‘Deficits, Interest Rates and Monetary Policy,’ Paper presented at the Cato Institute's Third Annual Conference.

Russek (1984), ‘Do Federal Deficits Really Matter?,’ Contemporary Policy Issues, 3, pp. Tobin J. (1977), ‘Implications of the GBR,’Journal of Money, Credit and Banking, 9, pp.

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Snippe, J. 1531, pp. (1978), ‘Does the St. Louis Equation Now Believe in Fiscal Policy?,’Federal Reserve Bank of St. Louis Review, 62, November, pp. 1–20. 68–87. 71–77. — (1976), ‘Comments on Tobin and Buiter,’ in: Stein (1976). Learn more about Institutional subscriptions. 940–971. The public debt is the amount of money that a government owes to outside debtors.

1095–1117. Buiter, W. (1984), ‘Measuring Aspects of Fiscal and Financial Policy,’ NBERWorking Paper, nr. 951–977.

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Seater, J.J. and R.S. ),Keynes' Relevance Today, London. Four issues in particular are discussed: the correct definition and measurement of government debt, the discussion on the (in)effectiveness of fiscal policy, the inflationary consequences of public debt and finally the influence of government deficits on financial markets. This seems to be the most important point about the long-run impact of huge amount of public debt on economic growth.

Dwyer, G.P. In this article the debate on the consequences of the creation and existence of government debt is reviewed, using two recent books as a guideline.

Hence, in modern times, public debt is used as an important instrument to bring about economic stability in the economy. — and J. Tobin (1979), ‘Debt Neutrality: A Brief Review of Doctrine and Evidence,’ in: G.M. Carlson, K.M. 319–333. Haan, J. de (1985), ‘Tax Discounting and Debt Neutrality,’IER Research Memorandum, nr. Pen, Dr. C.G.M.

Mariano (1985), ‘New Tests of the Life Cycle and Tax Discounting Hypothesis,’ Journal of Monetary Economics, 15, pp. De Haan, J.

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Owing to this reason, rapid increase in public debt need not be viewed with concern.

PubMed Google Scholar. Stein, J. 1–19. Public debt allows governments to raise funds to grow their economy or pay for services. O'Driscoll, G.P.

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591–602. Immediate online access to all issues from 2019. In fact, one of the major objectives of government borrowing today is to strengthen the economy by freeing it from the evils of depres­sions and also to build up the economy and stable economic growth. © 2020 Springer Nature Switzerland AG. De Economist 135, 367–384 (1987).

De Economist 15. Kregel, J.A. Advantages of Public Debt Hardly is there government in the world which does not contract public debt (government debt).

(1985),Macroeconomic Adjustment Processes: A Sequential Analytical Approach (dissertation), University of Groningen.

Niskanen, W. (1978), ‘Deficits, Government Spending and Inflation: What is the Evidence?,’Journal of Monetary Economics, 4, pp. — (1978), ‘Comment from an Unreconstructed Ricardian,’Journal of Monetary Economics, 4, pp. In this article the debate on the consequences of the creation and existence of government debt is reviewed, using two recent books as a guideline. volume 135, pages367–384(1987)Cite this article. Subscription will auto renew annually. 79–95. Pen, J. Wagner (1977),Democracy in Deficit, New York. (1983), ‘Government Spending and Private Sector Behavior,’American Economic Review, 73, pp. (1982), ‘The Role of Fiscal Policy in the St. Louis Equation,’Federal Reserve Bank of St. Louis Review, 64, January, pp. ),The Structure of Monetarism, New York/London. Blinder, A.S. and R.M. 1–17. Kochin, L.A. (1974), ‘Are Future Taxes Anticipated by Consumers?,’Journal of Money, Credit and Banking, 6, pp. Hafer, R.W. 13–61.

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994–1010. Thornton (1986), ‘The Monetary-Fiscal Policy Debate and the AndersenJordan Equation,’Federal Reserve Bank of St. Louis Review, 68, October, pp. Placone, D., H. Ulbrich and M. Wallace (1985), ‘The Crowding-Out Debate: It's Over When It's Over and It Isn't Over Yet,’Journal of Post-Keynesian Economics, 8, pp. Evans, P. (1985), ‘Do Large Deficits Produce High Interest Rates?,’American Economic Review, 75, pp. 319–338. The (UN)importance of public debt: A review essay. 101–121. (1976),Monetarism, Amsterdam.

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