Staatsverschuldung und Verschuldungsmentalität
Public Debt and Debt Mentality
MPRA Paper from University Library of Munich, Germany
In search for determinants of public debt, traditional economic approaches use macroeconomic and public choice models. More recent research explains public debt by debt preferences of voters and politicians. When it comes to empirical testing, however, the latter approach often suffers from the lack of suitable proxies for debt preferences. The present paper finds a remedy by using private debt as a proxy for voters’ debt mentality. The empirical analysis employs a panel data set for the German Laender and reveals that both private debt and private over-indebtedness have a significantly positive impact on public debt.
Keywords: Public debt; debt preferences; private debt mentality; private debt; private overindebtedness (search for similar items in EconPapers)
JEL-codes: H62 H63 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:79432
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