This article surveys the literature on sovereign debt sustainability from its origins in the mid-
1980s to the present and focuses on four debates. First, we evaluate the shift from an …

This paper investigates how a central bank digital currency can be expected to impact a
monopolistic banking sector. The paper's framework of analysis combines the Diamond …

We study optimal policy in an economy where interest rates are low because public debt
serves as collateral or buffer stock. Issuing more public debt raises welfare by easing the …

This paper studies, analytically and numerically, economies with multiple liquid assets: fiat
currency; fixed-supply real assets; and reproducible capital. Cases are considered where …

In this paper, we study the interactions between fiscal and monetary policy in a frictional
economy where fiat money, bank deposits and short-term and long-term nominal …

We construct a dynamic general equilibrium model where agents use nominal government
bonds as collateral in secured lending arrangements. If the collateral constraint binds …

The traditional environmental governance theory attributes pollution to the result of market
failure, but ignores the institution-level factors and the possibility of government failure …

We analyze how trading in secondary markets for public debt changes the inherent links
between monetary and fiscal policy, by studying both inflation and debt dynamics. When …

В статье рассматриваются особенности применения долговых инструментов
финансирования задач государства с позиции анализа положительных и …

ABSTRACT———————————————————————————————————
The Euler equation of a representative consumer–or its long-run counterpart, the Fisher …