Dealing with High Debt in an Era of Low Growth
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| Author/Editor: |
S. M. Ali Abbas ; Bernardin Akitoby ; Jochen R. Andritzky ; Helge Berger ; Takuji Komatsuzaki ; Justin Tyson |
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| Publication Date: |
September 24, 2013 |
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| Electronic Access: |
Free Full text (PDF file size is 1,968KB).
Use the free Adobe Acrobat Reader to view this PDF file |
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| Summary: task has become particularly challenging in European advanced economies where expectations of low growth and limits to monetary policy support are shifting the burden of adjustment onto fiscal consolidation. The SDN will investigate the main drivers behind successful past debt reversals, focusing on macroeconomic and financial market conditions, the speed and form of fiscal adjustment, and the institutional policy setting, among other things. Its policy conclusions will depend on the emerging stylized facts but are likely to include considerations on the design and pace of fiscal consolidation, taking into account country-specific as well as regional economic, institutional, and political factors. |
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| Series: |
Staff Discussion Notes No. 13/7 |
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