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....
Main Author: | |
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Format: | eBook |
Language: | English |
Published: |
Dordrecht
Springer Netherlands
1990, 1990
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Edition: | 1st ed. 1990 |
Series: | Financial and Monetary Policy Studies
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Subjects: | |
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