出版社：Netherlands Bureau for Economic Policy Analysis
摘要：This article investigates whether and to what extent it is advisable
to finance an expansion of public arrangements by debt.
It does so by applying two criteria: economic efficiency and
intergenerational equity. It concludes that, according to these
criteria, (partially) financing an increase of expenditure with
public debt is justified if the characteristics of the expenditure
obey one or more of the following conditions: a) the expenditure
mainly benefits the young and unborn generations; b) the
expenditure generates positive effects on future government
budgets; c) the increase of expenditure is temporary. This
implies that the size of the debt reduction in the next decades
may be curtailed if public expenditure is increased in one of
these forms.
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