From Stocks to Flows: Debt Service and Fiscal Sustainability
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We revisit fiscal sustainability through the lens of the governments budget constraint. What constrains fiscal policy is not the stock of outstanding liabilities per se, but the fiscal cost of servicing debt. Using two centuries of U.S. fiscal data (18002023) and a long-run panel of advanced
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美国国家经济研究局创建时间：
2026-07-01
