Aizenman, Joshua; Ito, Hiro - 2021
We outline two divergent exit strategies of the U.S. from the post COVID-19 debt-overhang, and analyze their … economic growth as long as the snowball effect – the difference between the interest rate on public debt and the growth rate … infrastructures. Second, with a lag, promoting a gradual fiscal adjustment aiming at reaching overtime primary-surpluses and debt …