Public Debt Controversies: An Essay in Reconciliation
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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Volume (Year): 45 (1992)
Issue (Month): 1 ()
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