OECD and emerging economies over the past four decades. For example, a bias in gross external liabilities towards debt has … stability by shifting external liabilities from debt towards FDI. In contrast, tax systems that favour debt finance over equity … finance have undermined stability by increasing the share of debt, including external debt, in corporate financing. Targeted …

Money, which provides liquidity services, is distinct from debt. The introduction of a bank that issues money in … exchange for debt and pays out its profit as dividend to shareholders modifies the model of overlapping generations. The set of …

stagnant financial profits, falling mortgage debt and rising public debt. The reliance of households on the formal financial … state debt and to financial regulation. …

stagnant financial profits, falling mortgage debt and rising public debt. The reliance of households on the formal financial … state debt and to financial regulation. …

and debt in funding such assets. In contrast, the balance sheet management of financial intermediaries reveals that it is …