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Public Debt Controversies: An Essay in Reconciliation

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  • Vaughn, Karen I
  • Wagner, Richard E

Abstract

The postwar literature on public debt is characterized by controversy among Keynesian, classical, and new classical positions. This paper seeks to reconcile these bodies of literature by showing that the analytical antagonisms stem from an excessive aggregation that is common to them all. In the process, the authors argue that public debt must be embedded in models of budgetary politics in which questions of intertemporal burden transfer become incidental to current wealth redistribution. Copyright 1992 by WWZ and Helbing & Lichtenhahn Verlag AG

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Kyklos.

Volume (Year): 45 (1992)
Issue (Month): 1 ()
Pages: 37-49

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Handle: RePEc:bla:kyklos:v:45:y:1992:i:1:p:37-49

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0023-5962

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Cited by:
  1. John Considine & David Duffy, 2006. "Partially sighted persons and the public debt elephant," Constitutional Political Economy, Springer, vol. 17(4), pages 237-249, December.
  2. Derek Hung Chiat Chen, 2003. "Intertemporal excess burden, bequest motives, and the budget deficit," Policy Research Working Paper Series 3086, The World Bank.

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