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La disyuntiva de la deuda pública: pagar o sisar

Author

Listed:
  • Antonio Hernández Gamarra

    () (Contraloría General de la República)

  • Luis I. Lozano Espitia

    (Banco de la República)

  • Martha Misas Arango

    () (Banco de la República)

Abstract

This paper contributes to the debate regarding national government debt. It asks if government should excise public debt through inflation or pay it as it was stipulated, and argues that, from an economic and social point of view, what is desirable is the just fulfillment of State obligations. First section describes the evolution of national government finances over the last ten years. Second section shows different simulations to analyze the determinants of interest payments. Final section examines proposals that seek to reduce public debt though monetary emission and discusses some of its possible consequences.

Suggested Citation

  • Antonio Hernández Gamarra & Luis I. Lozano Espitia & Martha Misas Arango, 2000. "La disyuntiva de la deuda pública: pagar o sisar," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 2(3), pages 149-184, July-dece.
  • Handle: RePEc:rei:ecoins:v:2:y:2000:i:3:p:149-184
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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/ahernandez3.pdf
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    Citations

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    Cited by:

    1. Alvaro Montenegro, 2004. "Lectura de la estadística fiscal," DOCUMENTOS DE ECONOMÍA 003137, UNIVERSIDAD JAVERIANA - BOGOTÁ.
    2. Carlos Esteban Posada & Luis Eduardo Arango, 2000. "¿Podemos sostener la deuda pública?," BORRADORES DE INVESTIGACIÓN 003817, UNIVERSIDAD DEL ROSARIO.
    3. Carlos Esteban Posada P. & Luis Eduardo Arango, 2000. "Podremos Sostener La Deuda Pública?," BORRADORES DE ECONOMIA 003330, BANCO DE LA REPÚBLICA.
    4. Sergio Clavijo, 2001. "Fallos y Fallas Económicas de las Altas Cortes: El caso de Colombia 1991-2000," Borradores de Economia 173, Banco de la Republica de Colombia.
    5. Lozano Luis Ignacio & Carolina Aristizábal, 2003. "Déficit público y desempeño económico en la década del noventa. El caso colombiano," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE, September.
    6. Mauricio Cabrera G. & Jorge Iván González, 2000. "La disyuntiva no es pagar o sisar la deuda, es pagarla a sobreprecio o a un precio justo," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 2(3), pages 185-194, July-dece.
    7. Sergio Clavijo, 2001. "Viabilidad de la Deuda Externa Colombiana," Borradores de Economia 179, Banco de la Republica de Colombia.
    8. Sergio Clavijo, 2002. "Deuda Pública Cierta y Contingente: El caso de Colombia," Borradores de Economia 205, Banco de la Republica de Colombia.

    More about this item

    Keywords

    public debt; fiscal deficit; monetary policy; central bank;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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