Bailing Out the People? When Private Debt Becomes Public

Bailing Out the People? When Private Debt Becomes Public
This paper documents a form of private sector bailout that is much more common (and yet unnoticed) than the typical bank bailout. Building on the newly-created Global Debt Database, we show that excess private debt systematically turns into higher public debt, regardless of whether the credit boom resulted in a crisis or a more orderly... READ MORE...

Publication date: June 2018
ISBN 9781484361658
$18.00

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