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About the Economic Psychology of Public Debt

Author

Listed:
  • Thomas Döring

    (Hochschule Darmstadt)

  • Ruven D. Oehmke

Abstract

Among the various means of public financing, public debt is a significant as well as controversial instrument. Previous economic research has mainly focused on different politico-economic explanations for the continuous increase in public debt in many countries during the last decades. However, economic research has not conclusively answered why the excessive increase in public debt is so rarely challenged by citizens and politicians despite the resulting budgetary burden. The answer to this question lies to some degree in economic psychology and the findings of behavioural economics.

Suggested Citation

  • Thomas Döring & Ruven D. Oehmke, 2019. "About the Economic Psychology of Public Debt," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 54(5), pages 297-303, September.
    • Handle: RePEc:spr:intere:v:54:y:2019:i:5:d:10.1007_s10272-019-0842-z
    DOI: 10.1007/s10272-019-0842-z
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    Cited by:

    1. Michele Lemme, 2024. "Constitutional Constraints on Public Debt in the Ecological Transition Era," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 21(1), pages 97-121, June.
    2. Hotak, Nematullah & Kaneko, Shinji, 2022. "Fiscal illusion of the stated preferences of government officials regarding interministerial policy packages: A case study on child labor in Afghanistan," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 285-298.

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