Debt and Macroeconomic Stability
Author
Abstract
Suggested Citation
DOI: 10.1787/5k8xb76rhstl-en
Download full text from publisher
References listed on IDEAS
- Jacopo Cimadomo, 2016.
"Real-Time Data And Fiscal Policy Analysis: A Survey Of The Literature,"
Journal of Economic Surveys, Wiley Blackwell, vol. 30(2), pages 302-326, April.
- Jacopo Cimadomo, 2011. "Real-Time Data and Fiscal Policy Analysis: a Survey of the Literature," Working Papers 2011-20, CEPII research center.
- Jacopo Cimadomo, 2011. "Real-time data and fiscal policy analysis: a survey of the literature," Working Papers 11-25, Federal Reserve Bank of Philadelphia.
- Cimadomo, Jacopo, 2011. "Real-time data and fiscal policy analysis: a survey of the literature," Working Paper Series 1408, European Central Bank.
- Checherita-Westphal, Cristina & Rother, Philipp, 2010. "The impact of high and growing government debt on economic growth: an empirical investigation for the euro area," Working Paper Series 1237, European Central Bank.
- Romain Bouis & Ane Kathrine Christensen & Boris Cournède, 2013. "Deleveraging: Challenges, Progress and Policies," OECD Economics Department Working Papers 1077, OECD Publishing.
- Douglas Sutherland & Peter Hoeller & Balázs Égert & Oliver Röhn, 2010. "Counter-cyclical Economic Policy," OECD Economics Department Working Papers 760, OECD Publishing.
- Bernanke, Ben & Gertler, Mark & Gilchrist, Simon, 1996.
"The Financial Accelerator and the Flight to Quality,"
The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 1-15, February.
- Ben S. Bernanke & Mark Gertler & Simon Gilchrist, 1994. "The financial accelerator and the flight to quality," Finance and Economics Discussion Series 94-18, Board of Governors of the Federal Reserve System (U.S.).
- Bernanke, Ben & Gertler, Mark & Gilchrist, Simon, 1994. "The Financial Accelerator and the Flight to Quality," Working Papers 94-24, C.V. Starr Center for Applied Economics, New York University.
- Ben Bernanke & Mark Gertler & Simon Gilchrist, 1994. "The Financial Accelerator and the Flight to Quality," NBER Working Papers 4789, National Bureau of Economic Research, Inc.
- Balázs Égert, 2015.
"Public debt, economic growth and nonlinear effects: Myth or reality?,"
Journal of Macroeconomics, Elsevier, vol. 43(C), pages 226-238.
- Balázs Égert, 2012. "Public debt, economic growth and nonlinear effects: Myth or reality?," EconomiX Working Papers 2012-44, University of Paris Nanterre, EconomiX.
- Balázs Égert, 2015. "Public debt, economic growth and nonlinear effects: Myth or reality?," Post-Print hal-01386037, HAL.
- Balázs Égert, 2012. "Public Debt, Economic Growth and Nonlinear Effects: Myth or Reality?," OECD Economics Department Working Papers 993, OECD Publishing.
- Bal??zs ??gert, 2013. "Public debt, economic growth and nonlinear effects: Myth or reality?," William Davidson Institute Working Papers Series wp1042, William Davidson Institute at the University of Michigan.
- Ruud A. De Mooij & Michael Keen, 2016.
"Debt, Taxes, and Banks,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 48(1), pages 5-33, February.
- Michael Keen & Ruud A. de Mooij, 2012. "Debt, Taxes, and Banks," IMF Working Papers 12/48, International Monetary Fund.
- Kiyotaki, Nobuhiro & Moore, John, 1997.
"Credit Cycles,"
Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 211-248, April.
- John Moore & Nobuhiro Kiyotaki, "undated". "Credit Cycles," Discussion Papers 1995-5, Edinburgh School of Economics, University of Edinburgh.
- Nobuhiro Kiyotaki & John Moore, 1995. "Credit Cycles," NBER Working Papers 5083, National Bureau of Economic Research, Inc.
- Stephen Cecchetti & Madhusudan Mohanty & Fabrizio Zampolli, 2011. "The real effects of debt," BIS Working Papers 352, Bank for International Settlements.
- John Y. Campbell, 2013.
"Mortgage Market Design,"
Review of Finance, European Finance Association, vol. 17(1), pages 1-33.
- Campbell, John Y., 2012. "Mortgage Market Design," Scholarly Articles 9887618, Harvard University Department of Economics.
- John Y. Campbell, 2012. "Mortgage Market Design," NBER Working Papers 18339, National Bureau of Economic Research, Inc.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2010.
"Growth in a Time of Debt,"
American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," NBER Working Papers 15639, National Bureau of Economic Research, Inc.
- Reinhart, Carmen M. & Rogoff, Kenneth S., 2010. "Growth in a Time of Debt," Scholarly Articles 11129154, Harvard University Department of Economics.
- Reinhart, Carmen M. & Rogoff, Kenneth, 2010. "Growth in a Time of Debt," CEPR Discussion Papers 7661, C.E.P.R. Discussion Papers.
- Jing Yang & Kostas Tsatsaronis, 2012. "Bank stock returns, leverage and the business cycle," BIS Quarterly Review, Bank for International Settlements, March.
- Ben Bernanke & Mark Gertler, 1990.
"Financial Fragility and Economic Performance,"
The Quarterly Journal of Economics, Oxford University Press, vol. 105(1), pages 87-114.
- Ben Bernanke & Mark Gertler, 1987. "Financial Fragility and Economic Performance," NBER Working Papers 2318, National Bureau of Economic Research, Inc.
- Bernanke, Ben & Gertler, Mark, 1987. "Financial Fragility And Economic Performance," SSRI Workshop Series 292690, University of Wisconsin-Madison, Social Systems Research Institute.
- Volker Ziemann, 2012. "Debt and Macroeconomic Stability: Debt and the Business Cycle," OECD Economics Department Working Papers 1005, OECD Publishing.
- Brunnermeier, Markus K. & Oehmke, Martin, 2013.
"Bubbles, Financial Crises, and Systemic Risk,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.),Handbook of the Economics of Finance, volume 2, chapter 0, pages 1221-1288,
Elsevier.
- Markus K. Brunnermeier & Martin Oehmke, 2012. "Bubbles, Financial Crises, and Systemic Risk," NBER Working Papers 18398, National Bureau of Economic Research, Inc.
- Mariassunta Giannetti & Luc Laeven, 2012. "Flight Home, Flight Abroad, and International Credit Cycles," American Economic Review, American Economic Association, vol. 102(3), pages 219-224, May.
- Carlstrom, Charles T & Fuerst, Timothy S, 1997.
"Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis,"
American Economic Review, American Economic Association, vol. 87(5), pages 893-910, December.
- Charles T. Carlstrom & Timothy S. Fuerst, 1996. "Agency costs, net worth, and business fluctuations: a computable general equilibrium analysis," Working Papers (Old Series) 9602, Federal Reserve Bank of Cleveland.
- Arturo Estrella & Anthony P. Rodrigues & Sebastian Schich, 2003.
"How Stable is the Predictive Power of the Yield Curve? Evidence from Germany and the United States,"
The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 629-644, August.
- Arturo Estrella & Anthony P. Rodrigues & Sebastian Schich, 2000. "How stable is the predictive power of the yield curve? evidence from Germany and the United States," Staff Reports 113, Federal Reserve Bank of New York.
- Thomas Laubach, 2009.
"New Evidence on the Interest Rate Effects of Budget Deficits and Debt,"
Journal of the European Economic Association, MIT Press, vol. 7(4), pages 858-885, June.
- Thomas Laubach, 2003. "New evidence on the interest rate effects of budget deficits and debt," Finance and Economics Discussion Series 2003-12, Board of Governors of the Federal Reserve System (U.S.).
- James H. Stock & Mark W.Watson, 2003.
"Forecasting Output and Inflation: The Role of Asset Prices,"
Journal of Economic Literature, American Economic Association, vol. 41(3), pages 788-829, September.
- James H. Stock & Mark W. Watson, 2001. "Forecasting output and inflation: the role of asset prices," Proceedings, Federal Reserve Bank of San Francisco, issue Mar.
- James H. Stock & Mark W. Watson, 2001. "Forecasting Output and Inflation: The Role of Asset Prices," NBER Working Papers 8180, National Bureau of Economic Research, Inc.
- Thierry Tressel, 2010. "Financial Contagion Through Bank Deleveraging; Stylized Facts and Simulations Applied to the Financial Crisis," IMF Working Papers 10/236, International Monetary Fund.
- Sutherland, Alan, 1997.
"Fiscal crises and aggregate demand: can high public debt reverse the effects of fiscal policy?,"
Journal of Public Economics, Elsevier, vol. 65(2), pages 147-162, August.
- Alan Sutherland, "undated". "Fiscal Crises and Aggregate Demand: Can High Public Debt Reverse the Effects of Fiscal Policy?," Discussion Papers 95/17, Department of Economics, University of York.
- Sutherland, Alan, 1995. "Fiscal Crises and Aggregate Demand: Can High Public Debt Reverse the Effects of Fiscal Policy?," CEPR Discussion Papers 1246, C.E.P.R. Discussion Papers.
- Mendoza, Enrique G. & Smith, Katherine A., 2006.
"Quantitative implications of a debt-deflation theory of Sudden Stops and asset prices,"
Journal of International Economics, Elsevier, vol. 70(1), pages 82-114, September.
- Enrique G. Mendoza & Katherine A. Smith, 2004. "Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices," NBER Working Papers 10940, National Bureau of Economic Research, Inc.
- Feld, Lars P. & Heckemeyer, Jost H. & Overesch, Michael, 2013.
"Capital structure choice and company taxation: A meta-study,"
Journal of Banking & Finance, Elsevier, vol. 37(8), pages 2850-2866.
- Feld, Lars P. & Heckemeyer, Jost H. & Overesch, Michael, 2011. "Capital structure choice and company taxation: A meta-study," ZEW Discussion Papers 11-075, ZEW - Leibniz Centre for European Economic Research.
- Lars P. Feld & Jost Henrich Heckemeyer & Michael Overesch, 2011. "Capital Structure Choice and Company Taxation: A Meta-Study," CESifo Working Paper Series 3400, CESifo.
- Jimenez Porras, G. & Ongena, S. & Peydro, J.L. & Saurina, J., 2012.
"Credit Supply versus Demand : Bank and Firm Balance-Sheet Channels in Good and Crisis Times,"
Other publications TiSEM
a0842b60-0c4b-438b-a405-a, Tilburg University, School of Economics and Management.
- Jimenez Porras, G. & Ongena, S. & Peydro, J.L. & Saurina, J., 2012. "Credit Supply versus Demand : Bank and Firm Balance-Sheet Channels in Good and Crisis Times," Other publications TiSEM 39dfc800-a796-4461-9c9e-4, Tilburg University, School of Economics and Management.
- Jimenez Porras, G. & Ongena, S. & Peydro, J.L. & Saurina, J., 2012. "Credit Supply versus Demand : Bank and Firm Balance-Sheet Channels in Good and Crisis Times," Discussion Paper 2012-005, Tilburg University, Center for Economic Research.
- E. Philip Davis, 2010. "Asset Prices and Real Economic Activity," OECD Economics Department Working Papers 764, OECD Publishing.
- Balázs Égert, 2014.
"Fiscal policy reaction to the cycle in the OECD: pro- or counter-cyclical?,"
Mondes en développement, De Boeck Université, vol. 0(3), pages 35-52.
- Balázs Égert, 2010. "Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-cyclical?," OECD Economics Department Working Papers 763, OECD Publishing.
- Balazs Egert, 2012. "Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-Cyclical?," CESifo Working Paper Series 3777, CESifo.
- Balázs Égert, 2012. "Fiscal Policy Reaction to the Cycle in the OECD: Pro- or Counter-cyclical?," EconomiX Working Papers 2012-12, University of Paris Nanterre, EconomiX.
- Balázs Égert, 2014. "Fiscal policy reaction to the cycle in the OECD: pro- or counter-cyclical?," Post-Print hal-01386041, HAL.
- Dan Andrews & Aida Caldera Sánchez & Åsa Johansson, 2011. "Housing Markets and Structural Policies in OECD Countries," OECD Economics Department Working Papers 836, OECD Publishing.
- Rudiger Ahrend & Antoine Goujard, 2014. "Drivers of Systemic Banking Crises: The Role of Financial Account Structure and Financial Integration," International Finance, Wiley Blackwell, vol. 17(2), pages 135-160, June.
- Brad Setser & Nouriel Roubini & Christian Keller & Mark Allen & Christoph B. Rosenberg, 2002. "A Balance Sheet Approach to Financial Crisis," IMF Working Papers 02/210, International Monetary Fund.
- Andy Mullineux & Victor Murinde & Rudra Sensarma, 2011. "Corporate financing and macroeconomic volatility in the European union," International Economics and Economic Policy, Springer, vol. 8(1), pages 79-92, April.
- Jordà, Òscar & Schularick, Moritz & Taylor, Alan M., 2011.
"When Credit Bites Back: Leverage, Business Cycles, and Crises,"
CEPR Discussion Papers
8678, C.E.P.R. Discussion Papers.
- Oscar Jorda & Moritz Schularick & Alan Taylor, 2012. "When Credit Bites Back: Leverage, Business Cycles and Crises," Working Papers 1224, University of California, Davis, Department of Economics.
- Òscar Jordà & Moritz HP. Schularick & Alan M. Taylor, 2012. "When Credit Bites Back: Leverage, Business Cycles and Crises," Working Papers Series 20, Institute for New Economic Thinking.
- Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2011. "When credit bites back: leverage, business cycles, and crises," Working Paper Series 2011-27, Federal Reserve Bank of San Francisco.
- Òscar Jordà & Moritz HP. Schularick & Alan M. Taylor, 2011. "When Credit Bites Back: Leverage, Business Cycles, and Crises," NBER Working Papers 17621, National Bureau of Economic Research, Inc.
- John R. Graham, 2000. "How Big Are the Tax Benefits of Debt?," Journal of Finance, American Finance Association, vol. 55(5), pages 1901-1941, October.
- Korinek, Anton, 2011. "Foreign currency debt, risk premia and macroeconomic volatility," European Economic Review, Elsevier, vol. 55(3), pages 371-385, April.
- Diaz-Alejandro, Carlos, 1985. "Good-bye financial repression, hello financial crash," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 1-24.
- Joshua Aizenman & Brian Pinto & Vladyslav Sushko, 2011. "Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute," NBER Working Papers 17530, National Bureau of Economic Research, Inc.
- Rossana Merola, 2012. "Debt and Macroeconomic Stability: Case studies," OECD Economics Department Working Papers 1004, OECD Publishing.
- Davis, E. Philip & Stone, Mark R., 2004.
"Corporate financial structure and financial stability,"
Journal of Financial Stability, Elsevier, vol. 1(1), pages 65-91, September.
- Mark R. Stone & E. P. Davis, 2004. "Corporate Financial Structure and Financial Stability," IMF Working Papers 04/124, International Monetary Fund.
- Andra C. Ghent & Marianna Kudlyak, 2011. "Recourse and Residential Mortgage Default: Evidence from US States 1," Review of Financial Studies, Society for Financial Studies, vol. 24(9), pages 3139-3186.
- Nicola Cetorelli & Linda S. Goldberg, 2012. "Banking Globalization and Monetary Transmission," Journal of Finance, American Finance Association, vol. 67(5), pages 1811-1843, October.
- Patrick Slovik & Boris Cournède, 2011. "Macroeconomic Impact of Basel III," OECD Economics Department Working Papers 844, OECD Publishing.
- Linda Rousová & Paul van den Noord, 2011. "Predicting Peaks and Troughs in Real House Prices," OECD Economics Department Working Papers 882, OECD Publishing.
- Sergei A. Davydenko & Julian R. Franks, 2008. "Do Bankruptcy Codes Matter? A Study of Defaults in France, Germany, and the U.K," Journal of Finance, American Finance Association, vol. 63(2), pages 565-608, April.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Douglas Sutherland & Peter Hoeller, 2012. "Debt and Macroeconomic Stability: An Overview of the Literature and Some Empirics," OECD Economics Department Working Papers 1006, OECD Publishing.
- Douglas Sutherland & Peter Hoeller & Balázs Égert & Oliver Röhn, 2010. "Counter-cyclical Economic Policy," OECD Economics Department Working Papers 760, OECD Publishing.
- Vratislav Izák, 2014. "Private and Public Debt," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2014(1), pages 4-21.
- Jason Nassios & James A. Giesecke & Peter B. Dixon & Maureen T. Rimmer, 2016. "Superannuation and Macroeconomic Growth and Stability," Centre of Policy Studies/IMPACT Centre Working Papers g-267, Victoria University, Centre of Policy Studies/IMPACT Centre.
- Douglas Sutherland & Peter Hoeller & Rossana Merola, 2012. "Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?," OECD Economics Department Working Papers 932, OECD Publishing.
- Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95, 12-2019.
- Baum, Anja & Checherita-Westphal, Cristina & Rother, Philipp, 2013.
"Debt and growth: New evidence for the euro area,"
Journal of International Money and Finance, Elsevier, vol. 32(C), pages 809-821.
- Baum, Anja & Checherita-Westphal, Cristina & Rother, Philipp, 2012. "Debt and growth: new evidence for the euro area," Working Paper Series 1450, European Central Bank.
- Hélène Rey, 2016.
"International Channels of Transmission of Monetary Policy and the Mundellian Trilemma,"
IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(1), pages 6-35, May.
- Rey, Hélène, 2015. "International Channels of Transmission of Monetary Policy and the Mundellian Trilemma," CEPR Discussion Papers 11027, C.E.P.R. Discussion Papers.
- Hélène Rey, 2016. "International Channels of Transmission of Monetary Policy and the Mundellian Trilemma," NBER Working Papers 21852, National Bureau of Economic Research, Inc.
- Bhamra, Harjoat S. & Fisher, Adlai J. & Kuehn, Lars-Alexander, 2011. "Monetary policy and corporate default," Journal of Monetary Economics, Elsevier, vol. 58(5), pages 480-494.
- House, Christopher L., 2006. "Adverse selection and the financial accelerator," Journal of Monetary Economics, Elsevier, vol. 53(6), pages 1117-1134, September.
- Daniel, Betty C. & Jones, John Bailey, 2007.
"Financial liberalization and banking crises in emerging economies,"
Journal of International Economics, Elsevier, vol. 72(1), pages 202-221, May.
- Betty Daniel & John Bailey Jones, 2001. "Financial Liberalization and Banking Crises in Emerging Economies," Discussion Papers 01-04, University at Albany, SUNY, Department of Economics.
- Betty C. Daniel & John Bailey Jones, 2001. "Financial liberalization and banking crises in emerging economies," Pacific Basin Working Paper Series 2001-03, Federal Reserve Bank of San Francisco.
- Panizza, Ugo & Presbitero, Andrea F., 2014.
"Public debt and economic growth: Is there a causal effect?,"
Journal of Macroeconomics, Elsevier, vol. 41(C), pages 21-41.
- Panizza, Ugo & Presbitero, Andrea F., 2012. "Public debt and economic growth: Is there a causal effect?," POLIS Working Papers 168, Institute of Public Policy and Public Choice - POLIS.
- Ugo Panizza & Andrea Filippo Presbitero, 2012. "Public Debt and Economic Growth: Is There a Causal Effect?," Mo.Fi.R. Working Papers 65, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
- Cristiano Cantore & Mathan Satchi, 2009. "Credit Supply and Output Volatility," Studies in Economics 0904, School of Economics, University of Kent.
- Vratislav Izák, 2015. "Soukromý a veřejný dluh [Private and Public Debt]," Politická ekonomie, Prague University of Economics and Business, vol. 2015(1), pages 74-90.
- Rodríguez-Vives, Marta & Giron, Celestino, 2017. "Leverage interactions: a national accounts approach," Statistics Paper Series 19, European Central Bank.
- Rudiger Ahrend & Antoine Goujard & Cyrille Schwellnus, 2012. "International Capital Mobility: Which Structural Policies Reduce Financial Fragility?," OECD Economic Policy Papers 2, OECD Publishing.
- Bofinger, Peter & Buch, Claudia M. & Feld, Lars P. & Schmidt, Christoph M. & Wieland, Volker, 2013. "Gegen eine rückwärtsgewandte Wirtschaftspolitik. Jahresgutachten 2013/14," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201314, September.
- Choi, Woon Gyu & Cook, David, 2012.
"Fire sales and the financial accelerator,"
Journal of Monetary Economics, Elsevier, vol. 59(4), pages 336-351.
- Woon Gyu Choi & David Cook, 2010. "Fire Sales and the Financial Accelerator," IMF Working Papers 2010/141, International Monetary Fund.
- Séverine MENGUY, 2019. "Does public indebtedness constrain or can it favor economic growth? A simple analytical modeling," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 1-29.
- European Commission, 2013. "Tax reforms in EU Member States - Tax policy challenges for economic growth and fiscal sustainability – 2013 Report," Taxation Papers 38, Directorate General Taxation and Customs Union, European Commission.
More about this item
Keywords
debt; dette; macroeconomic stability; stabilité macroéconomique;JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MAC-2013-06-24 (Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oec:ecoaaa:1003-en. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (). General contact details of provider: http://edirc.repec.org/data/edoecfr.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.