Partially Sighted Persons and the Public Debt Elephant

David Duffy, John Considine

Research output: Contribution to journalArticlepeer-review

3 Citations (Scopus)


Recent data on the accumulation patterns of public debt across OECD countries suggests a synthesis is possible between the theoretical and empirical approaches to public debt and also between the traditional and more recent political economy explanations of public debt accumulation. The inductive approach of recent political economy explanations is combined with the intertemporal constraints highlighted in the Ricardian–Barro theory to present a reinterpretation of cross-country debt accumulations patterns. Like the elephant in the blind men and the elephant fable, the conclusion is glaringly obvious. Formal and informal budgetary constraints matter.
Original languageEnglish
Pages (from-to)237-249
JournalConstitutional Political Economy
Issue number4
Publication statusPublished (in print/issue) - 2006


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