Historical lessons from large increases in government debt

Leçons historiques des fortes augmentations de la dette publique

Vincent Bignon and Pierre Sicsic

Eco Notepad (in progress) from Banque de France

Abstract: Sharp increases in government debt have occurred in post-war periods. While inflation, albeit at times moderate, was the norm in the 20th century, this had not occurred in previous centuries, even though wars had led to similar increases in public debt. One of the reasons for this is that this debt was set aside in a sinking fund for repayment at a later date.

Les fortes augmentations de la dette publique ont suivi les guerres. Si au 20e siècle elles ont en général débouché sur une forte inflation, cela n’avait pas été le cas lors des siècles précédents. Une des raisons est le cantonnement de cette dette afin de reporter son remboursement dans le futur.

Date: 2020-06-10
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.banque-france.fr/en/publications-and-s ... ases-government-debt
https://www.banque-france.fr/fr/publications-et-st ... de-la-dette-publique

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bfr:econot:165

Access Statistics for this paper

More papers in Eco Notepad (in progress) from Banque de France Banque de France 31 Rue Croix des Petits Champs LABOLOG - 49-1404 75049 PARIS. Contact information at EDIRC.
Bibliographic data for series maintained by Michael brassart ().