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 …

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 …

This paper examines the behavior of real GDP (levels and growth rates), unemployment, inflation, bank credit, and real … the ten-year window following the crisis when compared to the decade that preceded it. Inflation is lower after 1929 and …

intra-period insurance markets. Lastly, we conjecture that our results would hold as well if the government could issue debt …

Newly developed long historical time series on public debt, along with modern data on external debts, allow a deeper … analysis of the cycles underlying serial debt and banking crises. The evidence confirms a strong link between banking crises …, private debt surges are a recurring antecedent to banking crises; governments quite contribute to this stage of the borrowing …

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 …