IDEAS home Printed from https://ideas.repec.org/a/vep/journl/y2025v133i2p169-178.html
   My bibliography  Save this article

Pasinetti on Public Debt and Deficit

Author

Listed:
  • Roberto Ciccone

    (Università Roma Tre)

Abstract

This note focuses on two works by Luigi Pasinetti, published respectively in 1995 and 1998, concerning public deficit and debt. It highlights the Keynesian framework that characterizes the first essay, in which the implications of deficit-financed public spending are examined in relation to the role of the latter as a component of aggregate demand and the resulting effects on income levels. The 1998 article, which is devoted to a critique of the deficit and public debt limits set by the EMU rules, is discussed in terms of its underlying assumptions, with particular attention to those concerning the rate of GDP growth. Noting that in this work the author does not refer to any specific theoretical framework, the possibility is suggested of formulating a more radical critique within an approach that recognizes the contribution of public spending to aggregate demand, including its effects on growth.

Suggested Citation

  • Roberto Ciccone, 2025. "Pasinetti on Public Debt and Deficit," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 133(2), pages 169-178.
    • Handle: RePEc:vep:journl:y:2025:v:133:i:2:p:169-178
    as

    Download full text from publisher

    File URL: https://riss.vitaepensiero.it/scheda-articolo_digital/roberto-ciccone/pasinetti-on-public-debt-and-deficit-000518_2025_0002_0169-400108.html
    Download Restriction: Yes
    ---><---

    More about this item

    Keywords

    public debt; public deficit; sustainability; Keynesian approach;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • H6 - Public Economics - - National Budget, Deficit, and Debt

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vep:journl:y:2025:v:133:i:2:p:169-178. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Vep - Vita e Pensiero (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.