Fiscal Buffers, Private Debt, and Stagnation : The Good, the Bad and the Ugly

The Good, the Bad and the Ugly

Fiscal Buffers, Private Debt, and Stagnation : The Good, the Bad and the Ugly
We revisit the empirical relationship between private/public debt and output, and build a model that reproduces it. In the model, the government provides financial assistance to credit-constrained agents to mitigate deleveraging. As we observe in the data, surges in private debt are potentially more damaging for the economy than surges in public... READ MORE...

Publication date: May 2016
ISBN 9781484365502
$18.00

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