Cover -- Half title page -- Title page -- Copyright page -- Dedication -- Contents -- List of Tables -- List of Figures -- List of Abbreviations -- Preface -- Acknowledgements -- 1 Introduction -- 2 Fiscal Deficit and Macroeconomic Activity of Central and Subnational Governments -- 3 Fiscal Deficit, Capital Formation and Crowding Out -- 4 Deficit-Interest Rate Link and Financial Markets -- 5 Monetary-Fiscal Policy Coordination: Fiscal Rules and Testing for Monetary Seigniorage -- 6 Fiscal Seigniorage: Composition of Deficits