Eichengreen, Barry; Esteves, Rui Pedro - In: Oxford open economics 1 (2022), pp. 1-20
The Global Financial Crisis and the COVID-19 pandemic bequeathed large increases in public debt. At some point … governments may seek to bring down these elevated debt-to-GDP ratios, including by inflating (by raising nominal GDP). We assemble … a panel of debt consolidation episodes spanning 220 years and 183 nations. The evidence confirms that moderate inflation …
