inflate. It suggests that when economic growth is stalled, the U.S. debt overhang may trigger an increase in inflation of … about 5 percent for several years. This additional inflation would significantly reduce the debt ratio, even with some …As a share of GDP, the U.S. Federal debt held by the public exceeds 50 percent in FY2009, the highest debt ratio since …

inflate. It suggests that when economic growth is stalled, the U.S. debt overhang may trigger an increase in inflation of … about 5 percent for several years. This additional inflation would significantly reduce the debt ratio, even with some …As a share of GDP, the U.S. Federal debt held by the public exceeds 50 percent in FY2009, the highest debt ratio since …

, fiscal consolidation, privatization, and wealth taxation) and heterodox options (inflation, financial repression, debt …Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out … of 10 EMDEs, debt is higher now than it was in 2010 and, in half of the EMDEs, debt is more than 30 percentage points of …

, the problem will be inflation if sufficient resources cannot be diverted to the GND. And if inflation is likely, we need … voluntary saving. Following Keynes, we recommend deferred consumption as our first choice should inflation pressures arise. We … conclude that it is likely that the GND can be phased in without inflation, but if price pressures do appear, deferring a small …

This paper offers a reappraisal of the inflation-unemployment tradeoff, based on "frictional growth," describing the … able to work themselves out fully. In this context, monetary shocks have a gradual and delayed effect on inflation and … permanent nominal rigidities, and no departure from rational expectations, there is a long-run inflation-unemployment tradeoff. …

In this paper, we quantitatively analyze to what extent a benevolent government should issue debt in a model where … should buy private bonds, and not issue public debt in the long run. The reason is that in the U.S., a large fraction of the … population has almost no wealth or is even in debt. The wealth-poor, however, do not profit from an increase in the interest rate …

of this pattern. The pandemic has had huge impact on the conduct of stabilization policies in the EU. Public debt has …

We provide a comprehensive assessment of the relationship between public debt and GDP growth in the postwar advanced … economies. We use the timing of changes in public debt and growth to account for endogeneity, and find little evidence of a … four recent, influential papers that found a substantial negative relationship, especially when public debt exceeds 90 …