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Rising Government Debt: Causes and Solutions for a Decades-Old Trend

Citations

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Cited by:

  1. Cooray, Arusha & Özmen, Ibrahim, 2024. "The role of institutions on public debt: A quantile regression approach," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 912-928.
  2. Jorge Carrera & Pablo de la Vega & Fernando Toledo, 2024. "Income inequality and fiscal policy over the political cycle," Empirical Economics, Springer, vol. 66(1), pages 301-325, January.
  3. Carmen M. Reinhart & Franziska L. Ohnsorge & Kenneth S. Rogoff & M. Ayhan Kose, 2022. "The Aftermath of Debt Surges," Annual Review of Economics, Annual Reviews, vol. 14(1), pages 637-663, August.
  4. Adriana Elena Porumboiu & Petre Brezeanu, 2023. "Macroeconomic Factors that Generate Fiscal Risk in Romania," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 8, pages 35-56.
  5. Mouabbi, Sarah & Renne, Jean-Paul & Sahuc, Jean-Guillaume, 2024. "Debt-stabilizing properties of GDP-linked securities: A macro-finance perspective," Journal of Banking & Finance, Elsevier, vol. 162(C).
  6. Cozzi, Marco, 2023. "Public debt and welfare in a quantitative Schumpeterian growth model with incomplete markets," Journal of Macroeconomics, Elsevier, vol. 77(C).
  7. Brändle, Thomas & Elsener, Marc, 2023. "Do fiscal rules matter? A survey on recent evidence," Working papers 2023/07, Faculty of Business and Economics - University of Basel.
  8. DiGiuseppe, Matthew & Del Ponte, Alessandro, 2023. "Bottom-Up Sovereign Debt Preferences," SocArXiv wxr67, Center for Open Science.
  9. Augustin, Patrick & Sokolovski, Valeri & Subrahmanyam, Marti G. & Tomio, Davide, 2022. "In sickness and in debt: The COVID-19 impact on sovereign credit risk," Journal of Financial Economics, Elsevier, vol. 143(3), pages 1251-1274.
  10. Marina Azzimonti & Laura Karpuska & Gabriel Mihalache, 2023. "Bargaining Over Taxes And Entitlements In The Era Of Unequal Growth," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(3), pages 893-941, August.
  11. Schilirò, Daniele, 2020. "COVID-19 crisis and the public debt issue:The case of Italy," MPRA Paper 103997, University Library of Munich, Germany, revised Nov 2020.
  12. İbrahim ÖZMEN, 2022. "New Evidence from Government Debt and Economic Growth in Core and Periphery European Union Countries : Asymmetric Panel Causality," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 167-187, October.
  13. Raveh, Ohad & Tsur, Yacov, 2020. "Reelection, growth and public debt," European Journal of Political Economy, Elsevier, vol. 63(C).
  14. Romina Boccia, 2019. "Apple Trees for Firewood: James Buchanan’s Case for a Balanced Budget Amendment in the Context of U.S. Fiscal Policy," Homo Oeconomicus: Journal of Behavioral and Institutional Economics, Springer, vol. 36(1), pages 7-23, October.
  15. Christian F. Pfeil & Lars P. Feld, 2024. "Does the Swiss Debt Brake Induce Sound Federal Finances? A Synthetic Control Analysis," Public Finance Review, , vol. 52(1), pages 3-41, January.
  16. Frank, Marco & Stadelmann, David, 2021. "More federal legislators lead to more resources for their constituencies: Evidence from exogenous differences in seat allocations," Journal of Comparative Economics, Elsevier, vol. 49(1), pages 230-243.
  17. Rancan, Michela & Cariboni, Jessica & Keasey, Kevin & Vallascas, Francesco, 2023. "Bond issuance and the funding choices of European banks: The consequences of public debt," Journal of Empirical Finance, Elsevier, vol. 74(C).
  18. A. Fatas & Mr. Atish R. Ghosh & Ugo Panizza & Mr. Andrea F Presbitero, 2019. "The Motives to Borrow," IMF Working Papers 2019/101, International Monetary Fund.
  19. Wyplosz, Charles, 2020. "What’s Wrong with Fiscal Space?," CEPR Discussion Papers 14431, C.E.P.R. Discussion Papers.
  20. Caselli, Francesca & Wingender, Philippe, 2021. "Heterogeneous effects of fiscal rules: The Maastricht fiscal criterion and the counterfactual distribution of government deficits✰," European Economic Review, Elsevier, vol. 136(C).
  21. Dotti, Valerio & Janeba, Eckhard, 2023. "Consistent flexibility: Enforcement of deficit rules through political incentives," European Journal of Political Economy, Elsevier, vol. 79(C).
  22. Ardanaz, Martín & Ulloa-Suárez, Carolina & Valencia, Oscar, 2024. "Why don't we follow the rules? Drivers of compliance with fiscal policy rules in emerging markets," Journal of International Money and Finance, Elsevier, vol. 142(C).
  23. Melinda Fremerey & Andreas Lichter & Max Löffler, 2022. "Fiscal and Economic Effects of Local Austerity," CESifo Working Paper Series 9800, CESifo.
  24. Juan Pablo Jiménez & Leonardo Letelier & Ignacio Ruelas & Jaime Bonet-Morón, 2021. "Reglas fiscales subnacionales: Revisión empírica, experiencias internacionales y sus desafíos en la nueva institucionalidad fiscal post COVID," Documentos de trabajo sobre Economía Regional y Urbana 300, Banco de la Republica de Colombia.
  25. Ohnsorge, Franziska & Kose, M. Ayhan & Sugawara, Naotaka, 2020. "Benefits and Costs of Debt: The Dose Makes the Poison," CEPR Discussion Papers 14439, C.E.P.R. Discussion Papers.
  26. Ryota Nakatani, 2019. "A Possible Approach to Fiscal Rules in Small Islands — Incorporating Natural Disasters and Climate Change," IMF Working Papers 2019/186, International Monetary Fund.
  27. Heinemann, Friedrich & Janeba, Eckhard & Todtenhaupt, Maximilian, 2022. "Incumbency and expectations of fiscal rule compliance: Evidence from surveys of German policy makers," European Journal of Political Economy, Elsevier, vol. 72(C).
  28. Marzia Romanelli & Pietro Tommasino & Emilio VadalÃ, 2022. "The future of European fiscal governance: a comprehensive approach," Questioni di Economia e Finanza (Occasional Papers) 691, Bank of Italy, Economic Research and International Relations Area.
  29. Feld Lars P. & Reuter Wolf Heinrich & Yeter Mustafa, 2019. "Öffentliche Investitionen: Die Schuldenbremse ist nicht das Problem," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 20(4), pages 292-303, December.
  30. Hans Gersbach, 2024. "Forms of new democracy," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 62(4), pages 799-837, June.
  31. Tsur, Yacov, 2022. "Political tenure, term limits and corruption," European Journal of Political Economy, Elsevier, vol. 74(C).
  32. Kose M. Ayhan & Ohnsorge Franziska & Sugawara Naotaka, 2022. "A Mountain of Debt: Navigating the Legacy of the Pandemic," Journal of Globalization and Development, De Gruyter, vol. 13(2), pages 233-268, December.
  33. Ryota Nakatani, 2021. "Fiscal Rules for Natural Disaster- and Climate Change-Prone Small States," Sustainability, MDPI, vol. 13(6), pages 1-26, March.
  34. Gómez-Puig, Marta & Sosvilla-Rivero, Simón & Martínez-Zarzoso, Inmaculada, 2022. "On the heterogeneous link between public debt and economic growth," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 77(C).
  35. Lars P. Feld & Martin Beznoska & Oliver Holtemöller & Hans-Peter Burghof & Ulrike Neyer & Clemens Fuest & Friedrich Heinemann & Thomas König, 2020. "Rekordschulden gegen Corona-Folgen – was kann sich der Staat leisten?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(08), pages 03-32, August.
  36. Ly Dai Hung, 2021. "External Debts and Economic Growth when Debt Rating Matters," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 12(03), pages 1-26, October.
  37. Pagenhardt, Laura & Große Steffen, Christoph & Rieth, Malte, 2021. "Commited to Flexible Fiscal Rules," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242330, Verein für Socialpolitik / German Economic Association.
  38. Dotti, Valerio, 2024. "No country for young people? The rise of anti-immigration politics in ageing societies," Journal of Public Economics, Elsevier, vol. 238(C).
  39. Liu, Yan & Wu, Guowei & Xiong, Chen, 2024. "Countercyclical central government transfers incentivize local government overborrowing: Theory and evidence," Economic Modelling, Elsevier, vol. 132(C).
  40. Samuele Murtinu & Giulio Piccirilli & Agnese Sacchi, 2022. "Rational inattention and politics: how parties use fiscal policies to manipulate voters," Public Choice, Springer, vol. 190(3), pages 365-386, March.
  41. Marina Halac & Pierre Yared, 2022. "Fiscal Rules and Discretion Under Limited Enforcement," Econometrica, Econometric Society, vol. 90(5), pages 2093-2127, September.
  42. Daisuke Miyashita, 2023. "Public debt and income inequality in an endogenous growth model with elastic labor supply," International Journal of Economic Policy Studies, Springer, vol. 17(2), pages 447-472, August.
  43. Marin Muzhani, 2023. "Economics of Economy Pricing," Vernon Press Titles in Economics, Vernon Art and Science Inc, edition 1, number 1750, December.
  44. Ethan Ilzetzki & Heidi Christina Thysen, 2025. "Fiscal Rules and Market Discipline," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 73(1), pages 45-85, March.
  45. Valerio Dotti & Eckhard Janeba, 2020. "Consistent Flexibility: Enforcement of Fiscal Rules through Political Incentives," CESifo Working Paper Series 8440, CESifo.
  46. Gago Andrés & Carozzi Felipe & Bermejo Vicente J. & Abad Jose M., 2023. "Government Turnover and External Financial Assistance," Asociación Argentina de Economía Política: Working Papers 4655, Asociación Argentina de Economía Política.
  47. Régis Barnichon & Geert Mesters, 2021. "Fiscal targeting," Economics Working Papers 1793, Department of Economics and Business, Universitat Pompeu Fabra.
  48. Marta Gómez-Puig & Simón Sosvilla-Rivero & Inmaculada Martínez-Zarzoso, 2019. "Re-examining the debt-growth nexus: A grouped fixed-effect approach," Documentos de Trabajo del ICAE 2019-21, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
  49. Maria‐Eleni K. Agoraki & Stella Kardara & Tryphon Kollintzas & Georgios P. Kouretas, 2023. "Debt‐to‐GDP changes and the great recession: European Periphery versus European Core," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3299-3331, July.
  50. Martin F. Hellwig, 2023. "Overlapping-Generations Economies under Uncertainty: Dynamic Inefficiency/Efficiency with Multiple Assets and no Labour," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2023_04, Max Planck Institute for Research on Collective Goods.
  51. Mitchener, Kris & Trebesch, Christoph, 2021. "Sovereign Debt in the 21st Century: Looking Backward, Looking Forward," CEPR Discussion Papers 15935, C.E.P.R. Discussion Papers.
  52. Antonia Lopez Villavicencio & Hugo Oriola, 2025. "National elections and sub-national electoral cycles: Do strong fiscal rules matter in Europe?," EconomiX Working Papers 2025-15, University of Paris Nanterre, EconomiX.
  53. Marina Azzimonti & Laura Karpuska & Gabriel Mihalache, 2020. "Bargaining over Mandatory Spending and Entitlements," Department of Economics Working Papers 20-02, Stony Brook University, Department of Economics.
  54. Gamalerio, Matteo & Trombetta, Federico, 2021. "Fiscal Rules and the selection of politicians : theory and evidence from Italy," QAPEC Discussion Papers 10, Quantitative and Analytical Political Economy Research Centre.
  55. Ricardo Reis, 2022. "Debt Revenue and the Sustainability of Public Debt," Journal of Economic Perspectives, American Economic Association, vol. 36(4), pages 103-124, Fall.
  56. Mahieddine Adnan Ghecham, 2020. "Further attempt to explain the oil curse mechanism using a debt overhang concept," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 48(4), pages 852-868, October.
  57. Gersbach, Hans & Rochet, Jean-Charles & von Thadden, Ernst-Ludwig, 2023. "Public Debt and the Balance Sheet of the Private Sector," TSE Working Papers 23-1412, Toulouse School of Economics (TSE).
  58. Martin F. Hellwig, 2021. "Safe Assets, Risky Assets, and Dynamic Inefficiency in Overlapping-Generations Economies," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2021_10, Max Planck Institute for Research on Collective Goods.
  59. Marco Cozzi, 2019. "Has the Canadian Public Debt Been Too High? A Quantitative Assessment," Department Discussion Papers 1901, Department of Economics, University of Victoria.
  60. Robert Kraemer & Jonne Lehtimäki, 2024. "Government debt, European Institutions and fiscal rules: a synthetic control approach," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 31(4), pages 1112-1157, August.
  61. Markus Brueckner, 2024. "Action-Based Fiscal Consolidations and Economic Growth," JRFM, MDPI, vol. 17(5), pages 1-27, May.
  62. Török László, 2022. "Breakdown of Government Debt into Components in Euro Area Countries," JRFM, MDPI, vol. 15(2), pages 1-13, February.
  63. Valerio Dotti, 2022. "No Country for Young People? The Rise of Anti-Immigration Politics in Ageing Societies," Working Papers 2022:14, Department of Economics, University of Venice "Ca' Foscari".
  64. Andrián, Leandro & Hirs-Garzon, Jorge & Urrea, Ivan Leonardo & Valencia, Oscar, 2024. "Fiscal rules and economic cycles: Quality (always) Matters," European Journal of Political Economy, Elsevier, vol. 85(C).
  65. Barthélemy, Jean & Mengus, Eric & Plantin, Guillaume, 2024. "The central bank, the treasury, or the market: Which one determines the price level?," Journal of Economic Theory, Elsevier, vol. 220(C).
  66. Thomas Brändle & Marc Elsener, 2024. "Do fiscal rules matter? A survey of recent evidence," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 160(1), pages 1-38, December.
  67. repec:ecb:ecbdps:202426 is not listed on IDEAS
  68. Haizhen Mou & Maritza Lozano Man Hing, 2021. "Stringency of balanced budget laws and transparency of budgeting process," Public Budgeting & Finance, Wiley Blackwell, vol. 41(2), pages 45-64, June.
  69. Michele Salvi & Christoph A. Schaltegger & Lukas Schmid, 2020. "Fiscal Rules Cause Lower Debt: Evidence from Switzerland’s Federal Debt Containment Rule," Kyklos, Wiley Blackwell, vol. 73(4), pages 605-642, November.
  70. Jorge Carrera & Pablo de la Vega, 2024. "The effect of external debt on greenhouse gas emissions," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 48(3), pages 754-776, September.
  71. Bohne Albrecht & Heinemann Friedrich & Niebel Thomas & Thöne Michael, 2024. "Die Zukunftsquote: ein neuer Kompass für den Bundeshaushalt," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 25(2), pages 113-129.
  72. Rogoff, Kenneth, 2020. "Falling real interest rates, rising debt: A free lunch?," Journal of Policy Modeling, Elsevier, vol. 42(4), pages 778-790.
  73. Carrera, Jorge & de la Vega, Pablo, 2021. "The impact of income inequality on public debt," The Journal of Economic Asymmetries, Elsevier, vol. 24(C).
  74. Simon Berset & Martin Huber & Mark Schelker, 2023. "The fiscal response to revenue shocks," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(3), pages 814-848, June.
  75. Cong Yu & Linke Hou & Yuxia Lyu & Qi Zhang, 2022. "Political competition, spatial interactions, and default risk of local government debts in China," Papers in Regional Science, Wiley Blackwell, vol. 101(3), pages 717-743, June.
  76. Ryo Arawatari & Tetsuo Ono, 2023. "International coordination of debt rules with time‐inconsistent voters," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 25(1), pages 29-60, February.
  77. Debrun, Xavier & Masuch, Klaus & Ferrero, Guiseppe & Vansteenkiste, Isabel & Ferdinandusse, Marien & von Thadden, Leopold & Hauptmeier, Sebastian & Alloza, Mario & Derouen, Chloé & Bańkowski, Krzyszto, 2021. "Monetary-fiscal policy interactions in the euro area," Occasional Paper Series 273, European Central Bank.
  78. Osband, Kent & Filoso, Valerio & Capasso, Salvatore, 2024. "The limits of limitless debt," Journal of Macroeconomics, Elsevier, vol. 79(C).
  79. Daniele, SCHILIRO', 2019. "Public debt and growth in Italy:Analysis and policy proposals," MPRA Paper 97950, University Library of Munich, Germany, revised Nov 2019.
  80. Cho, Dooyeon & Lee, Kyung-woo, 2022. "Population aging and fiscal sustainability: Nonlinear evidence from Europe," Journal of International Money and Finance, Elsevier, vol. 126(C).
  81. Andersen, Torben M. & Bhattacharya, Joydeep & Liu, Pan, 2020. "Resolving intergenerational conflict over the environment under the Pareto criterion," Journal of Environmental Economics and Management, Elsevier, vol. 100(C).
  82. repec:osf:socarx:wxr67_v1 is not listed on IDEAS
  83. Alsamara, Mouyad & Mrabet, Zouhair & Mimouni, Karim, 2024. "The threshold effects of public debt on economic growth in MENA countries: Do energy endowments matter?," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 458-470.
  84. Marina Azzimonti & Gabriel P. Mihalache & Laura Karpuska, 2020. "Bargaining over Taxes and Entitlements," NBER Working Papers 27595, National Bureau of Economic Research, Inc.
  85. Philipp Weber & Laura A. Zell & Lars P. Feld & Christoph A. Schaltegger, 2024. "Functionality of Fiscal Rules in a Low Interest Rate Environment – New Empirical Results for Swiss Cantons," CESifo Working Paper Series 11351, CESifo.
  86. Apergis, Nicholas & Pinar, Mehmet, 2021. "The role of party polarization in renewable energy consumption: Fresh evidence across the EU countries," Energy Policy, Elsevier, vol. 157(C).
  87. Jawaria Zahid & Atif Khan Jadoon & Bisma Hamza & Muhammad Ali, 2024. "Macroeconomics Determinants of Fiscal Sustainability in the Asian Countries," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(1), pages 193-201.
  88. Coate, Stephen & Milton, Ross T., 2019. "Optimal fiscal limits with overrides," Journal of Public Economics, Elsevier, vol. 174(C), pages 76-92.
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