Public debt sustainability and alternative theories of interest
重新评估了公共债务和财政平衡的可持续路径，特别关注债务利率与经济增长率之间的关系，并从凯恩斯和斯拉法的利率理论视角探讨了维持永久性基本预算赤字的可能性。
This paper reappraises sustainable trajectories of public debt and fiscal balance, with particular reference to the possible relations between the interest rate on debt and the growth rate of the economy. From the standpoint of the approach to the theory of interest proposed by Keynes—and, in a certain sense, also by Sraffa—the analysis opens up the possibility of sustaining permanent primary budget deficits. However, the extent to which this standpoint enables one to revise the spectrum of feasible empirical magnitudes for sustainable fiscal balances appears rather modest.