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Back to more market: self-stabilizing bonds

Author

Listed:
  • Wolfgang von Eichborn

Abstract

In his article Wolfgang von Eichborn, Bundesfinanzhof (federal fiscal court), proposes the concept of “self-stabilizing” bonds, which shifts responsibility for the financing and consolidation requirements of high-debt countries, and even those with excessive debts, back to the interplay of those who seek and provide credit in the market. In his opinion the market is indispensable as a control instrument. The way out of the public debt crisis therefore must lie in “more market” and not “less market.”

Suggested Citation

  • Wolfgang von Eichborn, 2011. "Back to more market: self-stabilizing bonds," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(24), pages 20-22, December.
  • Handle: RePEc:ces:ifosdt:v:64:y:2011:i:24:p:20-22
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    File URL: https://www.ifo.de/DocDL/ifosd_2011_24_2.pdf
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    More about this item

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

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