Dealing with debt
| Title: | Dealing with debt |
| Author: |
Reinhart, Carmen M.; Reinhart, Vincent; Rogoff, Kenneth S.
Note: Order does not necessarily reflect citation order of authors. |
| Citation: | Reinhart, Carmen M., Vincent Reinhart, and Kenneth Rogoff. 2015. “Dealing with Debt.” Journal of International Economics 96 (July): S43–S55. doi:10.1016/j.jinteco.2014.11.001. |
| Access Status: | This work is under embargo until 2019-07-01 |
| Full Text & Related Files: |
Dealing with Debt.pdf (311.5Kb; PDF) 
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| Abstract: | This paper explores the menu of options for renormalizing public debt levels relative to nominal activity in the long run, should governments eventually decide to do so. Although debt ratios may need to rise further in some cases, a vision of longer-term options is key to weighing alternative medium-term stabilization strategies. Orthodox ones, the standard fare of officialdom, include enhancing growth, running primary budget surpluses, and privatizing government assets. Heterodox polices include restructuring debt contracts, generating unexpected inflation, taxing wealth, and repressing private finance. Advanced countries have relied far more on heterodox approaches than many observers choose to remember. |
| Published Version: | 10.1016/j.jinteco.2014.11.001 |
| Other Sources: | http://scholar.harvard.edu/files/rogoff/files/dealing_with_debt_postprint.pdf |
| Terms of Use: | This article is made available under the terms and conditions applicable to Other Posted Material, as set forth at http://nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of-use#LAA |
| Citable link to this page: | http://nrs.harvard.edu/urn-3:HUL.InstRepos:23936571 |
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