The EC’s public debt disease: discipline with credit spreads and cure with price stability

1992 ◽  
pp. 207-234 ◽  
Author(s):  
Graham Bishop
Keyword(s):  
Public Debt ◽  
Credit Spreads ◽  
Price Stability

Public Debt and Price Stability

2014 ◽  
Vol 15 (1) ◽  
pp. 42-61 ◽  
Author(s):  
Carl Christian von Weizsäcker
Keyword(s):  
Capital Market ◽  
Public Debt ◽  
Market Equilibrium ◽  
First Century ◽  
Price Stability ◽  
Real Rate ◽  
Capital Theory ◽  
Austrian Capital Theory ◽  
Austrian Capital ◽  
Average Period Of Production

Abstract Modernized Austrian capital theory implies: in capital market equilibrium without public debt the average period of production equals the average waiting period of households. In the twenty-first century and for the OECD plus China area, demographic and production parameters are such that capital market equilibrium implies a negative real rate of interest. Price stability implies a non-negative real rate of interest. Prosperity requires capital market equilibrium. Thus, positive public debt is required for price stability under conditions of prosperity. Some conclusions are drawn for actual international macropolicy.

scholarly journals Appendix: Two Faces of Public Debt

2021 ◽  
pp. 321-326
Author(s):  
Carl Christian von Weizsäcker ◽  
Hagen M. Krämer
Keyword(s):  
Economic Policy ◽  
Welfare State ◽  
Economic System ◽  
Public Debt ◽  
Price Stability ◽  
Debt Brake ◽  
The World ◽  
Guiding Principles

AbstractFirstly, Germany has a highly developed welfare state. Secondly, the free exchange of goods, all across Europe and indeed all around the world, is a key element of the German economic system. Thirdly, to the acclaim of voters, German policy is committed to the goal of price stability. Is the debt brake compatible with these three guiding principles of German economic policy? I doubt it. In the German discussion, public debt is only seen in a negative light—wrongly, as I will show.

Financial Systems and economic Development in the Russian Regions: A Comparative Analysis

2015 ◽  
pp. 94-108 ◽  
Author(s):  
K. Krinichansky
Keyword(s):  
Economic Development ◽  
Comparative Analysis ◽  
Financial Development ◽  
Public Debt ◽  
Fixed Capital ◽  
Russian Regions ◽  
Growth Mechanisms ◽  
Financial Systems ◽  
Debt Market ◽  
Regions Of Russia

The paper identifies and assesses the closeness of the connection between incremental indicators of the financial development in the regions of Russia with the incremental regional GDP and the investment in fixed capital. It is shown that the positioning of the region as an independent participant of public debt market matters: the regional GDP and investment in fixed capital grow more rapidly in the regions which are regularly borrowing on the sub-federal bonds market. The paper also demonstrates that the poorly developed financial system in some regions have caused the imperfection of the growth mechanisms since the economy is not able to use the financial system’s functions.

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