Public Debt Sustainability

Barry W. Poulson is emeritus professor of economics at the University of Colorado.John Merrifield is emeritus professor of economics at University of Texas at San Antonio and associate editor of the Nonpartisan Education Review.Steve H. Hanke is professor of applied economics at Johns Hopkins University and founder and co-director of The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.

With many national governments around the world increasing their debt at unsustainable rates, this volume assembles a distinguished group of contributors who take a sobering look at factors behind the problem and potential solutions to address it. This volume draws on international experience to show that, while nations with sustainable spending and debt policies are rare, some countries have succeeded. Public Debt Sustainability: International Perspectives makes an important contribution to the debate on responsible fiscal policy.

• Chapter 1: Organizing Congress for Budget Reforms by Kurt COUCHMANChapter 2: Debt Fatigue and the Climacteric in U.S. Economic Growth by John MERRIFIELD and Barry POULSONChapter 3: Preparing for the Next Crisis: Lessons from the Successful Swedish Fiscal Framework by Lars JONUNG and Fredrik NG ANDERSSONChapter 4: The Swiss Federal Debt Brake and its Unbudgeted Surpluses by Vera Z. EICHENAUER and Jan-Egbert STURMChapter 5: The German Debt Brake: Success Factors and Challenges by Lars P. FELD and Wolf H. REUTER Chapter 6: A Money Doctor’s Reflections on Currency Reforms and Hard Budget Constraints: A Stroll Down Memory Lane by Steve H. HANKEChapter 7: Fiscal Rules and Public Debt: An Emerging Market Perspective by Pablo GUIDOTTIChapter 8: Populist  Economic Thought: the Legacy of Juan Domingo Perón by Carlos NEWLAND and Emilio OCAMPO  Chapter 9: Monetary Policy and the Worsening U.S. Debt Crisis by Norbert J. MICHELChapter 10: The Federal Reserve and the Debt Crisis by Tom SAVINGChapter 1