Garrote, Daniel; Llopis, Jimena; Vallés, Javier - Banco de España - 2013
only in the intensity of debt reduction but also in the distribution between agents and productive sectors, and in the form … international environments. In the United States the drivers reducing debt are the improvement in activity and household debt … restructuring and defaults; in the United Kingdom inflation has dominated, eroding the value of debt; and in Ireland and Spain the …