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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 … facilitated a sharp and rapid reduction in public debt/GDP ratios from the late 1940s to the 1970s. Low nominal interest rates …
Persistent link: https://www.econbiz.de/10009643064
inflation became commonplace when fiat money displaced coinage; financial repression was used as a subtle type of debt …This article provides a historical overview of the factors leading up to debt crises and the default methods used by … the governments to solve them, ranging from repudiation and restructuring to inflation tax and financial repression. The …
Persistent link: https://www.econbiz.de/10010555598
As austerity policies are unpopular with voters and high levels of debt are a drag on growth a number of economists … the debt trap. We maintain that an exit from financial repression-like policies is the better alternative to promote …
Persistent link: https://www.econbiz.de/10012927502
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 … facilitated a sharp and rapid reduction in public debt/GDP ratios from the late 1940s to the 1970s. Low nominal interest rates …
Persistent link: https://www.econbiz.de/10013127094
Accommodative monetary policy during the financial crisis was instrumental in preventing a deeper recession. Views differ, however, on how long such measures should be kept in place. At the heart of this debate is the notion that a protracted period of policy accommodation could create...
Persistent link: https://www.econbiz.de/10013065335
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 …
Persistent link: https://www.econbiz.de/10013067013
public and private debts. Sometimes the debt restructuring is subtle and takes the form of, “financial repression.” In the … reduction in public debt/GDP ratios from the late 1940s to the 1970s. In this paper, we summarize our findings for the post …
Persistent link: https://www.econbiz.de/10009147569
the public debt burden. Section 1 draws a picture on the general economic outlook in the developed economies and emerging … countries. Section 2 considers the different ways in which a country’s debt burden can be diminished. Section 3 defines the … concept of debt financial repression and its main features. Section 4 focuses on researchers’ work on historical data, to …
Persistent link: https://www.econbiz.de/10010675713
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 …
Persistent link: https://www.econbiz.de/10008619297
users in domestic currency, inflation, and the like. Under such circumstances, some countries decide to give up their …
Persistent link: https://www.econbiz.de/10005620044