This book presents evidence that public debts in the advanced economies have surged in recent years to levels not recorded since the end of World War II, surpassing the heights reached during the First World War and the Great Depression. At the same time, private debt levels, particularly those of financial institutions and households, are in uncharted territory and are (in varying degrees) a contingent liability of the public sector in many countries. Historically, high leverage episodes have been associated with slower ...
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This book presents evidence that public debts in the advanced economies have surged in recent years to levels not recorded since the end of World War II, surpassing the heights reached during the First World War and the Great Depression. At the same time, private debt levels, particularly those of financial institutions and households, are in uncharted territory and are (in varying degrees) a contingent liability of the public sector in many countries. Historically, high leverage episodes have been associated with slower economic growth and a higher incidence of default or, more generally, restructuring of public and private debts. A more subtle form of debt restructuring in the guise of "financial repression" (which had its heyday during the tightly regulated Bretton Woods system) also importantly facilitated sharper and more rapid debt reduction than would have otherwise been the case from the late 1940s to the 1970s. It is conjectured here that the pressing needs of governments to reduce debt rollover risks and curb rising interest expenditures in light of the substantial debt overhang (combined with the widespread "official aversion" to explicit restructuring) are leading to a revival of financial repression--including more directed lending to government by captive domestic audiences (such as pension funds), explicit or implicit caps on interest rates, and tighter regulation on cross-border capital movements.
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Add this copy of A Decade of Debt (Policy Analyses in International to cart. $7.07, very good condition, Sold by Wonder Book - Member ABAA/ILAB rated 5.0 out of 5 stars, ships from Frederick, MD, UNITED STATES, published 2011 by The Peterson Institute for International Economics.
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2011, The Peterson Institute for International Economics
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The Peterson Institute for International Economics
Published:
2011
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English
Alibris ID:
17514868497
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Very Good. Very Good condition. A copy that may have a few cosmetic defects. May also contain light spine creasing or a few markings such as an owner's name, short gifter's inscription or light stamp. Bundled media such as CDs, DVDs, floppy disks or access codes may not be included.
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2011, The Peterson Institute for International Economics
Add this copy of A Decade of Debt to cart. $13.16, new condition, Sold by Paperbackshop rated 4.0 out of 5 stars, ships from Bensenville, IL, UNITED STATES, published 2011 by The Peterson Institute for International Economics.
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2011, The Peterson Institute for International Economics
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2011, The Peterson Institute for International Economics
Add this copy of A Decade of Debt to cart. $22.52, new condition, Sold by Kennys.ie rated 4.0 out of 5 stars, ships from Galway, IRELAND, published 2011 by The Peterson Institute for International Economics.
Edition:
2011, The Peterson Institute for International Economics
Publisher:
The Peterson Institute for International Economics
Published:
2011
Language:
English
Alibris ID:
17819522375
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New. Series: Policy Analyses in International Economics. Num Pages: 200 pages, black & white tables, figures, graphs. BIC Classification: KC. Category: (P) Professional & Vocational. Dimension: 229 x 156 x 11. Weight in Grams: 266. 2011. Paperback.....We ship daily from our Bookshop.
