Dealing with High Debt in an Era of Low Growth

S. M. Ali Abbas, Bernardin Akitoby, Jochen Andritzky, Helge Berger, Takuji Komatsuzaki and Justin Tyson

No 2013/007, IMF Staff Discussion Notes from International Monetary Fund

Abstract: task has become particularly challenging in European advanced economies where expectations of low growth and limits to monetary policy support are shifting the burden of adjustment onto fiscal consolidation. The SDN will investigate the main drivers behind successful past debt reversals, focusing on macroeconomic and financial market conditions, the speed and form of fiscal adjustment, and the institutional policy setting, among other things. Its policy conclusions will depend on the emerging stylized facts but are likely to include considerations on the design and pace of fiscal consolidation, taking into account country-specific as well as regional economic, institutional, and political factors.

Keywords: SDN; interest rate; debt ratio; debt; economy; GDP; General Government Debt; Public Debt Sustainability; Fiscal Consolidation; debt reversal; debt reduction; risk premium; reduction episode; financing debt; multiplier effect; Debt reduction; Fiscal stance; Inflation; Europe; Global (search for similar items in EconPapers)
Pages: 32
Date: 2013-09-23
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Citations: View citations in EconPapers (21)

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