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Accumulating debt raises concerns about its implications for macroeconomic stability. This paper sheds light on the implications of high indebtedness for the macroeconomic volatility by identifying the main drivers of the evolution of debt in a set of countries. The country choice was based on...
Persistent link: https://www.econbiz.de/10013075183
With population ageing, fiscal consolidation has become of paramount importance for euro area countries. Consolidation can be pursued in various ways, with different effects on potential growth, which itself will be dragged down by ageing. A dynamic general equilibrium model with overlapping...
Persistent link: https://www.econbiz.de/10012447132
Using a large panel of OECD countries this paper studies the link between debt and macroeconomic stability by comparing the evolution of balance sheet aggregates and economic output in high- and lowdebt environments. While the relationship between debt and economic growth has been extensively...
Persistent link: https://www.econbiz.de/10011276933
The financial crisis revealed flaws in pre-crisis policy frameworks. Particular gaps included the failure of monetary … manoeuvre in event of a crisis. During the crisis, the clear pre-crisis assignments of policy instruments to objectives became … exit from the crisis, policy decisions continue to be made in an environment of high uncertainty. In the near term …
Persistent link: https://www.econbiz.de/10009003058
Ireland’s banking crisis, one of the most severe in the OECD area, and the associated economic recession have taken a …
Persistent link: https://www.econbiz.de/10009364451
policy has changed with the financial crisis, giving some indications as to what may be needed to re-establish a …
Persistent link: https://www.econbiz.de/10008587587
did appear sounder to the public during the 2007/08 crisis due to implicit government backing, they ought to be privatised …
Persistent link: https://www.econbiz.de/10009149951
Accumulating debt raises concerns about its implications for macroeconomic stability. This paper sheds light on the implications of high indebtedness for the macroeconomic volatility by identifying the main drivers of the evolution of debt in a set of countries. The country choice was based on...
Persistent link: https://www.econbiz.de/10011277009
policy has changed with the financial crisis, giving some indications as to what may be needed to re-establish a …
Persistent link: https://www.econbiz.de/10012446110
economic crisis that began in mid-2007 which are contained in the main publications of the IMF, the OECD and the BIS and … issuing warnings in order to prevent such crisis in the future. The review finds that the institutions did not recognize the … need for monetary tightening in a timely way for either the US or the UK, two epicentres of the global crisis. While some …
Persistent link: https://www.econbiz.de/10009003650