A common argument against balanced-budget fiscal rules has it that the costs of durable
public capital fall entirely on current generations while its benefits also accrue to future …

A common argument against balanced-budget fiscal rules has it that the costs of durable
public capital fall entirely on current generations while its benefits also accrue to future …

A common argument against balanced-budget fiscal rules has it that the costs of durable
public capital fall entirely on current generations while its benefits also accrue to future …

A common argument against balanced-budget fiscal rules has it that the costs of durable
public capital fall entirely on current generations while its benefits also accrue to future …

A common argument against balanced-budget fiscal rules has it that the costs of durable
public capital fall entirely on current generations while its benefits also accrue to future …

A common argument against balanced-budget fiscal rules has it that the costs of durable
public capital fall entirely on current generations while its benefits also accrue to future …

This paper studies the intergenerational welfare effects of a public investment scale up
under alternative fiscal rules. In the European Union, most member states face serious …