We study economic growth and inflation at different levels of government and external debt. Our analysis is based on … roughly cut in half. Third, there is no apparent contemporaneous link between inflation and public debt levels for the … advanced countries as a group (some countries, such as the United States, have experienced higher inflation when debt/GDP is …

the same time, private debt levels, particularly those of financial institutions and households, are in uncharted …, restructuring of public and private debts. A more subtle form of debt restructuring in the guise of "financial repression" (which … had its heyday during the tightly regulated Bretton Woods system) also importantly facilitated sharper and more rapid debt …

public and private debts. A subtle type of debt restructuring takes the form of "financial repression." Financial repression … interest rates, regulation of cross-border capital movements, and (generally) a tighter connection between government and banks … rapid reduction in public debt/GDP ratios from the late 1940s to the 1970s. Low nominal interest rates help reduce debt …

central government debt increases, on average, by about 86 percent. Thus the fiscal burden of banking crisis extends far …

--although advanced economies with higher debt levels may have been constrained in how they provided stimulus (with more below …

temptation to inflate. It suggests that when economic growth is stalled, the US debt overhang may induce an increase in inflation …Projections indicate the US Federal debt held by the public may exceed 70–100% of GDP within 10years. In many respects …, the temptation to inflate away some of this debt burden is similar to that at the end of World War II. In 1946, the debt …

symptoms, and common features (such as misguided financial regulation or inadequate supervision) which serve as amplifiers of …

toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms … economies, where debt restructuring or conversions, financial repression, and a tolerance for higher inflation, or a combination … current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through …