NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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What is a Sustainable Public Debt?

Pablo D'Erasmo, Enrique G. Mendoza, Jing Zhang

NBER Working Paper No. 21574
Issued in September 2015

---- Acknowledgments ----

This paper was prepared for Volume 2 of the Handbook of Macroeconomics. We are grateful to our discussant, Kinda Hachem, and to the volume editors, Harald Uhlig and John Taylor, for their comments and suggestions. We are also grateful to Juan Hernandez, Christian Probsting and Valentina Piamiotti for their valuable research assistance. D'Erasmo and Mendoza also acknowledge the generous support of the National Science Foundation under awards 1325122 and 1324740. The views expressed in this paper are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of Chicago, the Federal Reserve Bank of Philadelphia, the Federal Reserve System, the National Bureau of Economic Research.

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