The Liquidation of Government Debt
Title | The Liquidation of Government Debt PDF eBook |
Author | Ms.Carmen Reinhart |
Publisher | International Monetary Fund |
Pages | 47 |
Release | 2015-01-21 |
Genre | Business & Economics |
ISBN | 1498338380 |
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
The Public Debt of the United States
Title | The Public Debt of the United States PDF eBook |
Author | Robert Morris |
Publisher | |
Pages | 302 |
Release | 1867 |
Genre | Debts, Public |
ISBN |
The Public Debt of the United States
Title | The Public Debt of the United States PDF eBook |
Author | James Sloan Gibbons |
Publisher | |
Pages | 304 |
Release | 1970 |
Genre | Business & Economics |
ISBN |
Thoughts on the liquidation of the Public Debt, and on the relief of the Country from the distress incident to a population exceeding the demand for labour
Title | Thoughts on the liquidation of the Public Debt, and on the relief of the Country from the distress incident to a population exceeding the demand for labour PDF eBook |
Author | Richard Heathfield |
Publisher | |
Pages | 40 |
Release | 1829 |
Genre | Debts, Public |
ISBN |
Guidelines for Public Debt Management -- Amended
Title | Guidelines for Public Debt Management -- Amended PDF eBook |
Author | International Monetary Fund |
Publisher | International Monetary Fund |
Pages | 39 |
Release | 2003-09-12 |
Genre | Business & Economics |
ISBN | 149832892X |
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Global Waves of Debt
Title | Global Waves of Debt PDF eBook |
Author | M. Ayhan Kose |
Publisher | World Bank Publications |
Pages | 403 |
Release | 2021-03-03 |
Genre | Business & Economics |
ISBN | 1464815453 |
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Public Debt of the United States
Title | Public Debt of the United States PDF eBook |
Author | James Sloan Gibbons |
Publisher | |
Pages | 304 |
Release | 1867 |
Genre | Debts, Public |
ISBN |