The Political Economy of Public Debt
综述了将政治决策纳入动态环境的最新公共债务理论，为解释实证证据和评估控制政治低效的制度改革提供了新框架，并讨论了导致债务过度积累的低效问题及其对长期债务分布的影响。
We survey recent theories of public debt that incorporate political decision making in rich dynamic environments. These theories provide a new framework with which to interpret empirical evidence and to assess institutional reforms that may help control political inefficiencies. We discuss the inefficiencies that lead to overaccumulation of debt and their implications for the long-run distribution of debt.