The Political Economy of Debt and Entitlements

Laurent Bouton, Alessandro Lizzeri, Nicola Persico

NBER Working Paper No. 22570
Issued in August 2016, Revised in September 2019

---- Acknowledgments ----

We thank the editor Nicola Gennaioli, three anonymous referees, Marina Azzimonti, Micael Castanheira, Pedro Gete, and Stefanie Stantcheva. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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