Public Debt And Cost Theory
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Public Debt Management
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Author : Rudiger Dornbusch
language : en
Publisher: Cambridge University Press
Release Date : 1990-11-30
Public Debt Management written by Rudiger Dornbusch and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-11-30 with Business & Economics categories.
As Europe proceeds towards economic and monetary union, fiscal convergence and the prospect of a common money are at the centre of discussion. This volume from the Centre for Economic Policy Research brings together theoretical, applied and historical research on the management of public debt and its implications for financial stability.
Public Debt And Cost Theory
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Author : E. G. West
language : en
Publisher: Ottawa, Carleton U., Department of Economics
Release Date : 1975
Public Debt And Cost Theory written by E. G. West and has been published by Ottawa, Carleton U., Department of Economics this book supported file pdf, txt, epub, kindle and other format this book has been release on 1975 with Cost categories.
Fiscal Discipline And The Cost Of Public Debt Service
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Author : Mr.Francesco Caselli
language : en
Publisher: International Monetary Fund
Release Date : 1998-04-01
Fiscal Discipline And The Cost Of Public Debt Service written by Mr.Francesco Caselli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-04-01 with Business & Economics categories.
Is there any systematic explanation of variations in the cost of debt servicing over time and across countries? This paper examines the influence of fiscal variables on borrowing costs in a panel of OECD countries, showing that these variables have a significant role. In particular, an improvement of the primary fiscal balance is associated with a significant reduction in debt-servicing costs, amplifying the effects of primary adjustment on the fiscal position. A significant country-specific component remains, however; several explanations for this component are discussed, including debt management and market infrastructure.
Public Debt Sustainability And Economic Growth
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Author : Alfred Greiner
language : en
Publisher: Springer
Release Date : 2014-10-14
Public Debt Sustainability And Economic Growth written by Alfred Greiner and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-14 with Business & Economics categories.
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 mechanisms that make public deficits and debt influence the economy are not so easily understood. This book elaborates on the effects of public debt starting from the intertemporal budget constraint of the government. It is shown under which conditions a government can stick to the intertemporal budget constraint and then, demonstrated how public debt affects the growth process and welfare in market economies. The effects are derived for models with complete labor markets as well as taking into account labor market imperfections. The focus in this book is on fiscal policy issues, but it also deals with monetary policy aspects. The theoretical analysis is complemented with empirical time series analyses on debt sustainability and with panel studies dealing with the relationship between public debt and economic growth.
Public Debt As A Form Of Public Finance
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Author : Richard E. Wagner
language : en
Publisher: Cambridge University Press
Release Date : 2019-05-30
Public Debt As A Form Of Public Finance written by Richard E. Wagner and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-30 with Business & Economics categories.
Economists commit a category mistake when they treat democratic governments as indebted. Monarchs can be indebted, as can individuals. In contrast, democracies can't truly be indebted. They are financial intermediaries that form a bridge between what are often willing borrowers and forced lenders. The language of public debt is an ideological language that promotes politically expressed desires and is not a scientific language that clarifies the practice of public finance. Economists have gone astray by assuming that a government is just another person whose impulses toward prudent action will restrict recourse to public debt and induce rational political action.
Management Of The Nominal Public Debt Theory And Applications
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Author : Mr.Guillermo Calvo
language : en
Publisher: International Monetary Fund
Release Date : 1990-12-01
Management Of The Nominal Public Debt Theory And Applications written by Mr.Guillermo Calvo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-12-01 with Business & Economics categories.
Optimal management of the public debt is explored in a context where economic policy is continuously revised because, when the public debt is non—indexed, policy—makers are tempted to use inflation in order to reduce the real value of the public debt. The model’s implications are explored following two approaches. First, the effects of various exogenous disturbances are examined by means of numerical simulations. Secondly, the analysis explores—for Italy, Ireland, and the United States—if the model’s implications concerning the maturity structure of government debt are consistent with actual experience.
The Economics Of Public Debt
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Author : Kenneth J. Arrow
language : en
Publisher: Springer
Release Date : 1988-09-19
The Economics Of Public Debt written by Kenneth J. Arrow and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-09-19 with Business & Economics categories.
A collection of essays presenting new insights into the analysis of public debt theory, recent historical episodes, econometric analyses and policy dilemmas and options. It also documents the perceptions of debt problems from viewpoints of national economies as well as the world economy.
Public Debt
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Author : Giuseppe Eusepi
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-06-30
Public Debt written by Giuseppe Eusepi and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-30 with Business & Economics categories.
Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.
Theory Of The Firm S Cost Of Capital A How Debt Affects The Firm S Risk Value Tax Rate And The Government S Tax Claim
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Author : Ramesh K S Rao
language : en
Publisher: World Scientific
Release Date : 2007-03-12
Theory Of The Firm S Cost Of Capital A How Debt Affects The Firm S Risk Value Tax Rate And The Government S Tax Claim written by Ramesh K S Rao and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-03-12 with Business & Economics categories.
The cost of capital concept has myriad applications in business decision-making. The standard methodology for deriving cost of capital estimates is based on the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation), interactions between the borrowing rate and tax shields, and default considerations. It develops several new results and shows how better cost of capital and marginal tax rate estimates can be generated. The book's unified cost of capital theory is discussed with comprehensive numerical examples and graphical illustrations.This book will be of interest to corporate managers, academics, investment bankers, governmental agencies, and private companies that generate cost of capital estimates for public consumption.
A Theory Of The Firm S Cost Of Capital
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Author : Ramesh K. S. Rao
language : en
Publisher: World Scientific
Release Date : 2007
A Theory Of The Firm S Cost Of Capital written by Ramesh K. S. Rao and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
The cost of capital concept is widely used in business decision-making. The current theory and estimates for measurement of cost of capital are derived from the seminal Modigliani-Miller analyses. This book generalizes this framework to include non-debt tax shields (e.g., depreciation) and default considerations. It develops several new results and shows how better cost of capital and marginal tax rate estimates can be generated. The unified cost of capital theory presented in the book is illustrated graphically and with comprehensive numerical examples. This book will be of great interest to practicing managers, academics, governmental agencies and private companies that generate cost of capital estimates for public consumption.
