Search results for " sinking fund"

showing 2 items of 2 documents

How to pay for the war in times of imperfect commitment. Adam Smith and David Ricardo on the Sinking Fund

2014

AbstractThe paper proposes a comparative analysis of Smith's and Ricardo's views on the sinking fund. It shows that Smith and Ricardo agreed in stressing the ineffectiveness of the sinking fund as a policy instrument targeted at public debt repayment and tax-burden relief, pointing out that its actual workings had paradoxically helped to increase rather than reduce British total debt-load. Moreover, their explanation of the sinking fund paradox integrates a defective fiscal commitment technology with powerful politicians’ incentives to siphon off the money stored in the sinking fund to meet sudden increases of public expenditure whenever the occasion arose.

Macroeconomics060106 history of social sciencesGeneral Arts and HumanitiesKeynesian economics05 social sciencesEconomics Econometrics and Finance (miscellaneous)Public expenditure06 humanities and the artsDebt repaymentAdam smithAdam Smith David Ricardo Ricardian equivalence sinking fund imperfect commitmentSpanish Civil WarIncentiveHistory and Philosophy of ScienceSettore SECS-P/04 - Storia Del Pensiero Economico0502 economics and businessEconomics0601 history and archaeologySinking fundImperfect050207 economicsSettore SECS-P/01 - Economia Politica
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Funding System

2015

The entry discusses the 1820 article, Funding System, David Ricardo wrote for the Supplement to the sixth edition of the Encyclopedia Britannica. It also investigates Ricardo's views on public debt and capital levy

Settore SECS-P/04 - Storia Del Pensiero EconomicoDavid Ricardo sinking fund public debt capital levy
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