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The Politics of Public Debt Neoliberalism, Capitalist Development, and the Restructuring of the State

Rising public debt has been widespread in democratic-capitalist political economies since the 1970s, generally accompanied among other things by weak economic growth, rising unemployment, increasing inequality, growing tax resistance, and declining po-litical participation. Following an initial period of fiscal consolidation in the 1990s, public debt took an unprecedented leap in response to the Great Recession.…

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Public Debt management in Brazil

This paper derives the optimal composition of the Brazilian public debt by looking at the relativeimpact of the risk and cost of alternative debt instruments on the probability of missing thestabilization target. This allows to price risk against the expected cost of debt service and thus to findthe optimal combination along the trade off between…

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PUBLIC DEBT EXTERNAL COMPETITIVENESS ND FISCAL DISCIPLINE IN DEVELOPING COUNTRIES

Macroeconomic -stabilization and structural -adjustment programs for debt – ridden developing countries generally center on two major policies: reduction of the fisc l deficit as the expenditure-reducing policy and deval-uation of the domestic currency as the expenditure -switching policy. Thisstudy discusses and quantifies the conditions under which those policies are consistent for countries such as…

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