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The Economics of Public Debt : Proceedings of a Conference held by the International Economic Association at Stanford, California - Kenneth J. Arrow

The Economics of Public Debt

Proceedings of a Conference held by the International Economic Association at Stanford, California

By: Kenneth J. Arrow (Editor), Michael J. Boskin (Editor)

Hardcover

Published: 19th September 1988
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This collection of essays presents new insights into the analyses of public debt theory, recent historical episodes, econometric analyses of public debt and policy dilemmas and options. The subjects covered include optimal debt policy, the role of deficits as a temporary stimulus in the course of disinflation, the intergenerational equity aspects of public debt, public debt problems in developing countries, indexing public debt for inflation and various conceptual, accounting and measurement issues in obtaining accurate information on deficits and public debt as well as their impact on aggregate economic activity. The studies document the explosion of public debt, the potential benefits and costs associated with this explosion and the perceptions of the debt problems from the viewpoints of various national economies as well as the world economy. Professor Arrow was awarded the Alfred Nobel Memorial Prize in Economic Science in 1972.

Acknowledgements - The International Economic Association - List of Participants - Abbreviations and Acronyms - Introduction; K.J.Arrow & M.J.Boskin - PART 1 PUBLIC DEBT AND MACROECONOMICS - Deficits Monetary Policy and Real Economic Activity; R.Eisner & P.J.Pieper, Discussion - On the Relevance or Irrelevance of Public Financial Policy; J.E.Stiglitz, Discussion - Concepts and Measures of Federal Deficits and Debt and their Impact on Economic Activity; M.J.Boskin, Discussion - Optimum Fiscal Policy when Monetary Policy is Bound by a Rule: Ramsey Redux; E.S.Phelps & K.Velupillai - PART 2 PUBLIC DEBT AND EQUITY - Public Debt and Intergeneration Equity; R.A.Musgrave, Discussion - Debt Burden and Intergeneration Equity; T.Ihori, Discussion - PART 3 ASPECTS OF PUBLIC DEBT THEORY AND PRACTICE - Debt and Taxes in War and Peace: The Closed Economy Case; J.S.Flemming, Discussion - Public Debt and Fiscal Policy in Developing Countries; V.Tanzi & M.K.Blejer, Discussion - Benefits and Burdens of Indexed Debt: Some Lessons from Israel's Experience; E.Kleiman, Discussion - Debt, Wealth and the Rate of Growth: an Exercise in Equilibrium Dynamics; S.Gorini, Discussion - Index

ISBN: 9780333468159
ISBN-10: 0333468155
Series: International Economic Association
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 317
Published: 19th September 1988
Publisher: Palgrave Macmillan
Country of Publication: GB
Dimensions (cm): 22.0 x 14.0  x 2.2
Weight (kg): 0.57
Edition Number: 1