Front Matter; Copyright; Contents; List of figures and tables; List of contributors; Preface; Acknowledgements; PART I: PUBLIC DEBT AND INDIVIDUAL RATIONALITY; 1 De Viti de Marco vs. Ricardo on public debt: self-extinction or default?; 2 Governing the market for sovereign bailouts; 3. Political obligations: is debt special?; 4 Debt default and the limits of the contractual imagination: Pareto and Mosca meet Buchanan; PART II: MACRO CONSEQUENCES AND IMPLICATIONS OF PUBLIC DEBT; 5 Political economy of government solvency: the institutional framework for stability and sustainability
Text of Note
6 On some recent proposals of public debt restructuring in the Eurozone7 Economic governance in the euro area: balancing risk reduction and risk sharing; 8 Adjustments in the balance sheets: is it normal, this 'new normal'?; Index
0
8
SUMMARY OR ABSTRACT
Text of Note
The original chapters in this book connect the microeconomic and macroeconomic approaches to public debt. Through their thought-provoking views, leading scholars offer insights into the incentives that individuals and governments may have in resorting to public debt, thereby promoting a clearer understanding of its economic consequences.