Cuerpo, Carlos; Drumond, Inês; Lendvai, Julia; … - In: Economic Modelling 44 (2015) C, pp. 372-383
The current crisis revealed the unsustainable levels of private sector indebtedness, fuelled by a prolonged period of rapid credit expansion during the upturn phase in some EU Member States. The subsequent deleveraging process now taking place, although necessary, stands as a source of concern...