Public debt

François Facchini

Chapter 93 in Elgar Encyclopedia of Public Choice, 2025, pp 666-673 from Edward Elgar Publishing

Abstract: The political economy of public debt puts forward 24 explanations. Debt and public deficits are not only influenced by fluctuating economic growth, financial crises, wars, or demographic changes. They are the result of political calculus aimed at externalizing the cost of certain choices to others (taxpayers and future generations).

Keywords: Budget cycles; Fiscal illusion; Aging; Constitution; Inequality (search for similar items in EconPapers)
Date: 2025
ISBN: 9781802207743
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