Sustainability of fiscal debt theory In history of thought; An examination of the states; And a comparative analysis of panel estimation.

摘要

The over-all themes for this collection of papers is the sustainability of fiscal debt theory. Paper One examines a debate amongst classical economic theorists on 18th-century United Kingdom's use of public credit and links those arguments for use of public credit with modern day sustainable fiscal debt theory; Paper Two examines the U.S. States as one public sector in a federal system of government and tries to ascertain under what circumstances the States implement sustainable fiscal policies with respect to their level of debt; Paper Three compares estimating a times-series--cross-section panel data set with three estimation techniques: fixed-effect generalized least squares, two-stage feasible generalized least squares, and ordinary least squares using panel corrected standard errors.