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Sustainability of national debt in Europe

By Friedrich Heinemann

Abstract

There are at least two reasons why sustainability of public debt is an issue of increasing importance. First, public choice considerations show the danger of excessive use of deficit finance in a democracy. Second, the conditions of a European Monetary Union imply further incentives for deficit finance. The following paper presents various approaches to assessing the sustainability of public debt and applies them to the EC countries

Topics: ddc:330, EC
Publisher: Springer Heidelberg
Year: 1993
DOI identifier: 10.1007/BF02928105
OAI identifier: oai:econstor.eu:10419/140389
Provided by: EconStor

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