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Dealing with High Debt in an Era of Low Growth

Author

Listed:
  • S. M. Ali Abbas
  • Bernardin Akitoby
  • Jochen R. Andritzky
  • Helge Berger
  • Takuji Komatsuzaki
  • Justin Tyson

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.

Suggested Citation

  • S. M. Ali Abbas & Bernardin Akitoby & Jochen R. Andritzky & Helge Berger & Takuji Komatsuzaki & Justin Tyson, 2013. "Dealing with High Debt in an Era of Low Growth," IMF Staff Discussion Notes 13/7, International Monetary Fund.
  • Handle: RePEc:imf:imfsdn:13/7
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Botta, Alberto & Tori, Daniele, 2017. "A critique to the expansionary austerity (part III): empirical counter facts beyond theoretical weaknesses," Greenwich Papers in Political Economy 16387, University of Greenwich, Greenwich Political Economy Research Centre.
    2. Jean-Charles Bricongne & Aurora Mordonu, 2017. "Interlinkages Between Household and Corporate Debt in Advanced Economies," Open Economies Review, Springer, vol. 28(5), pages 1029-1055, November.
    3. Salvatore Dell'Erba & Marcos Poplawski-Ribeiro & Ksenia Koloskova, 2014. "Medium-Term Fiscal Multipliers during Protracted Recessions," IMF Working Papers 14/213, International Monetary Fund.
    4. Emanuele Baldacci & Sanjeev Gupta & Carlos Mulas-Granados, 2013. "Debt Reduction, Fiscal Adjustment, and Growth in Credit-Constrained Economies," IMF Working Papers 13/238, International Monetary Fund.
    5. International Monetary Fund, 2014. "South Africa; Selected Issues," IMF Staff Country Reports 14/339, International Monetary Fund.
    6. Fidora, Michael & Schmitz, Martin & Tcheng, Céline, 2017. "Reducing large net foreign liabilities," Working Paper Series 2074, European Central Bank.
    7. repec:sgm:jbfeuw:v:1:y:2017:i:7:p:28-50 is not listed on IDEAS
    8. Bernardin Akitoby & Takuji Komatsuzaki & Ariel J Binder, 2014. "Inflation and Public Debt Reversals in the G7 Countries," IMF Working Papers 14/96, International Monetary Fund.
    9. Alberto Botta & Daniele Tori, 2015. "A critique to the expansionary austerity: Theoretical weaknesses and empirical counter evidence," Working Papers PKWP1511, Post Keynesian Economics Study Group (PKSG).
    10. Emanuele Baldacci & Sanjeev Gupta & Carlos Mulas-Granados, 2012. "Reassessing the fiscal mix for successful debt reduction," Economic Policy, CEPR;CES;MSH, vol. 27(71), pages 365-406, July.

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