The Liquidation of Government Debt is popular PDF and ePub book, written by Ms.Carmen Reinhart in 2015-01-21, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, The Liquidation of Government Debt can be Read Online from any device for your convenience.
The Liquidation of Government Debt Book PDF Summary
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for government debt, limiting tax-base erosion. Financial repression is most successful in liquidating debt when accompanied by inflation. For the advanced economies, real interest rates were negative 1⁄2 of the time during 1945–1980. Average annual interest expense savings for a 12—country sample range from about 1 to 5 percent of GDP for the full 1945–1980 period. We suggest that, once again, financial repression may be part of the toolkit deployed to cope with the most recent surge in public debt in advanced economies.
Detail Book of The Liquidation of Government Debt PDF
- Author : Ms.Carmen Reinhart
- Release : 21 January 2015
- Publisher : International Monetary Fund
- ISBN : 9781484369234
- Genre : Business & Economics
- Total Page : 47 pages
- Language : English
- PDF File Size : 18,7 Mb
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