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- W2038325015 abstract "The paper deals with the effects of uncertainty and the level of public indebtedness on the behavior of citizen-taxpayers and their willingness to fully honor their previous commitments to make interest payments and debt repayments and thus on their credibility as debtors. A model is constructed in which exists a well-defined limit to the size of the public debt, even if the latter is not perceived as net wealth in the aggregate, thus excluding limits due to demand-side or “portfolio-balance” considerations. This limit has to do with the effects of the size of public indebtedness on the credibility of government as a debtor." @default.
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- W2038325015 title "The public debt, uncertainty, and government credibility" @default.
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- W2038325015 doi "https://doi.org/10.1016/0148-6195(86)90028-7" @default.
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