Le coût réel de la dette publique - Archive ouverte HAL Accéder directement au contenu
Autre Publication Scientifique Journal des libertés Année : 2020

Le coût réel de la dette publique

Résumé

This article criticizes the idea that public debt is not a problem because interest rates are negative or zero. Blanchard's (2019) position sees the fall in debt service costs, but does not see the other costs of debt. The decrease in debt service costs is not without cost. The forced solvency of States (i) favours a flight of income to foreigners who hold the debt, (ii) is paid by low incomes via taxes (the poor pay for the rich), (iii) creates the conditions for a class of state rentiers and for crowding out effects, (iv) does not encourage state reform and a reduction in unproductive expenditure, (v) and forces the central bank to reduce interest rates, which will have long-term effects on the structure of savings.
Fichier principal
Vignette du fichier
JDL9-le-cout-reel-de-la-dette-publique.pdf (505.56 Ko) Télécharger le fichier
Origine : Fichiers éditeurs autorisés sur une archive ouverte

Dates et versions

hal-03195337 , version 1 (13-04-2021)

Identifiants

  • HAL Id : hal-03195337 , version 1

Citer

François Facchini. Le coût réel de la dette publique. 2020, pp.123-142. ⟨hal-03195337⟩
155 Consultations
213 Téléchargements

Partager

Gmail Facebook X LinkedIn More