This paper aims at pointing out the factors that have led to the accumulation of public debt in the countries currently considered as developed. It first analyzes the dynamics of public debt in industrialized countries, putting into light that its level has always been high. Establishing that a...

It is unanimously acknowledged at an international level that, for the long term, the stability of prices is the fundamental objective of the monetary policy of central banks. The international financial crises that have occurred in the context of financial globalization have determined central...