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The ‘Hidden’ Debt

Some years ago, when Principal and Professor of Economics at the infant Univer­ sity of Buckingham, Britain's only independent university, I was intrigued to receive an application, supported by strong recommendations from a Signora Ilde Rizzo, who wished to take some courses in public finance....

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Bibliographic Details
Main Author: Rizzo, I.
Format: eBook
Language:English
Published: Dordrecht Springer Netherlands 1990, 1990
Edition:1st ed. 1990
Series:Financial and Monetary Policy Studies
Subjects:
Economic Policy
Finance, Public
Political Science
Public Economics
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
Table of Contents:
  • 1. Introduction
  • 2. Notes on a Definition of the Concept of Public Debt
  • 2.1 Introduction
  • 2.2 Analogies between borrowing and unfunded obligations
  • 2.3 Differences between borrowing and unfunded obligations
  • 2.4 The U.K. pension system case
  • 2.5 Economic and policy implications
  • Notes
  • 3. The Public Debt Perception Issue
  • 3.1 Introduction
  • 3.2 Public debt illusion: a brief overview
  • 3.3 Funded debt perception
  • 3.4 Unfunded debt perception
  • 3.5 Concluding remarks
  • Notes
  • 4. The Fulfilment of Unfunded Obligations and the Problem of Population Growth: An Application of Baumol’s Law
  • 4.1 Introduction
  • 4.2 The model
  • 4.3 Concluding remarks
  • Notes
  • 5. Public Choice Implications of Unfunded Debt
  • 5.1 Introduction
  • 5.2 The median voter theorem and unfunded obligations
  • 5.3 Unfunded obligations fulfilment within a median voter framework: a simple model
  • 5.4 The effects of the population growth on the level of unfunded obligations fulfillment
  • 5.5 The choice of the median voter’s optimum contribution rate
  • 5.6 Concluding remarks
  • Notes
  • 6. The Interest Group Theory and Unfunded Obligations
  • 6.1 Introduction
  • 6.2 Interest groups and the political process
  • 6.3 Interest groups and unfunded obligations
  • 6.4 Concluding remarks
  • Notes
  • 7. An Attempt at Empirical Investigation
  • 7.1 Introduction
  • 7.2 Some preliminary methodological questions
  • 7.3 The pension equation: cross-section analysis
  • 7.4 The pension equation: time-series analysis
  • 7.5 OLS results
  • 7.6 Concluding remarks
  • Notes
  • 8. Conclusions

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