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The public debt overhang spread across advanced countries, and the reform of the Stability and Growth Pact in the Euro Zone, have revived the polarization between those who think that debt is always good and those who think that debt is always bad. This paper presents a normative model of endogenous growth with debt-financed public capital. It is shown
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Habitat destruction and the extinction debt
Nature, 1994D. Tilman, R. May, C. Lehman, M. Nowak
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Debt covenant violation and manipulation of accruals
, 1994Mark L. Defond, J. Jiambalvo
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Journal of Financial and Quantitative Analysis, 2001
Armen Hovakimian, T. Opler, S. Titman
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Armen Hovakimian, T. Opler, S. Titman
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Carbon Risk, Carbon Risk Awareness and the Cost of Debt Financing
, 2018J. Jung, K. Herbohn, Peter M. Clarkson
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Punishment by Securities Regulators, Corporate Social Responsibility and the Cost of Debt
, 2020Guangming Gong +4 more
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The American Journal of Cardiology, 2009 Debt with Potential Repudiation: Theoretical and Empirical Analysis
, 1981J. Eaton, Mark Gersovitz
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