Conference Agenda
Overview and details of the sessions of this conference.
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Some information on the session logistics:
If not stated otherwise, the discussant is the following speaker, with the first speaker being the discussant of the last paper. The last speaker of each session is the session chair. (Exception: invited sessions)
Presenters should speak for no more than 20 minutes, and discussants should limit their remarks to no more than 5 minutes. The remaining time should be reserved for audience questions and the presenter’s responses. We suggest following these guidelines also in the (less common) 3-paper sessions in a 2-hour slot, to allow participants to move between sessions. Discussants are encouraged to avoid summarizing the paper. By focusing on a few questions and comments, the discussants can help start a broader discussion with the audience.
Only registered participants can attend this conference. Further information available on the congress website https://www.iseg.ulisboa.pt/en/event/iipf/ .
Venue address: ISEG - Lisbon School of Economics & Management, R. Francesinhas 21, 1200-675 Lisboa, Portugal
Please note that all times are shown in the time zone of the conference. The current conference time is: 17th Sept 2026, 11:40:48am WEST
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Daily Overview |
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D12: Public Debt, Interest Rates, and Fiscal Sustainability Location: Room 113 (Francesinhas 1) | |
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Population Ageing Threatens Fiscal Sustainability Whether r > g Or r < g tilburg university, Netherlands, The A popular view is that fiscal policies are sustainable if r < g, e.g. if the interest rate on government bonds is lower than the rate of economic growth. This paper challenges this view. One reason is that if the interest rate is below the rate of growth currently, this may well be reversed somewhere in the future. Another reason is that even if r < g holds indefinitely, the level to which the public debt ratio will converge may, due to population ageing, be unsustainably high. Thirdly, accounting for the empirical fact that the interest rate on government bonds is increasing in the public debt ratio further increases the risk of fiscal unsustainability. Numerical simulations for four EU countries indicate that it is very unlikely that public debt ratios will stabilize at sustainable levels if current fiscal policies remain unchanged
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