Series: IMF Working Papers
Author(s): Antonio Fatás , Atish Ghosh , Ugo Panizza , and Andrea Presbitero
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 10 May 2019
Keywords: Domestic debt, Economic growth, Economic recovery, Real interest rates, Domestic currency debt, Sovereign Debt, Political Economy, Fiscal Policy, Growth, debt-to-GDP ratio
Governments issue debt for good and bad reasons. While the good reasons-intertemporal tax-smoothing, fiscal stimulus, and asset management-can explain some of the increases in public debt in recent years, they cann...