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Chapter 1 Introduction -- Chapter 2 Synopsis of fiscal policy in South Africa: 1994 – 2020 -- Part 1: Government debt -- Chapter 3 Effects of government debt on output, household consumption and gross fixed capital formation: Role of the credit conditions channel -- Chapter 4 Government debt...
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Standard deficit accounting neglects the growth dividend: the amount by which annual GDP growth shrinks the debt-GDP ratio. America's growth dividend has more than doubled since the Great Recession because the debt ratio has more than doubled, leading to headline deficits that far exceed changes...
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