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Deficits, Debts and Defaults - Past, Present and Future

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  • Peter Sinclair

Abstract

This paper explores the issue of whether rates of interest should and do tend to exceed rates of growth, a key determinant of debt sustainability. It goes on to consider the argument for debt renegotiation in circumstances where sustainability is in grave doubt.

Suggested Citation

  • Peter Sinclair, 2011. "Deficits, Debts and Defaults - Past, Present and Future," Discussion Papers 11-20, Department of Economics, University of Birmingham.
    • Handle: RePEc:bir:birmec:11-20
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G01 - Financial Economics - - General - - - Financial Crises
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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