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The developing international debt crisis has unleashed unanticipated fears that governments in some advanced economies … may default on their sovereign debt and trigger a global financial tsunami. This article provides a primer on sovereign … debt sustainability and interprets the recent experience of advanced economies in the light of a uniform approach that …
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We have been wrestling with one of the most severe recessions in the post-World War II era; moreover, it has been accompanied by a widespread financial crisis. After unprecedented policy responses, there are signs of recovery on both fronts. So, it is not too early to take stock of our actions...
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Total U.S. credit card debt has almost doubled since 1988. Little is apparent from the aggregate data, however, about … the composition of credit card debt growth. In this article, Peter S. Yoo separates household data into two categories …: changes in the number of households with credit cards, and changes in average credit card debt for increased total credit card …
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