We study economic growth and inflation at different levels of government and external debt. Our analysis is based on … findings are: First, the relationship between government debt and real GDP growth is weak for debt/GDP ratios below a threshold … external debt reaches 60 percent of GDP, annual growth declines by about two percent; for higher levels, growth rates are …

The scientific reassessment of the economic role of the state after the crisis has renewed interest in Abba Lerner … effectiveness of tackling the crisis with the different part of public budget. It also allows us to understand ways of increasing … growth, deflation, and weak public finances. …

The scientific reassessment of the economic role of the state after the crisis has renewed interest in Abba Lerner … effectiveness of tackling the crisis with the different part of public budget. It also allows us to understand ways of increasing … growth, deflation, and weak public finances. …

The historical record shows that financial crises are far from being a rare a phenomenon; they occur often enough to be … development of many crises, including the current subprime crisis. Governments have reacted to crises by erecting a vast and … supervision. The unwinding of the current crisis will mark a big enlargement of the safety net and moral hazard, as well as a …

The historical record shows that financial crises are far from being a rare a phenomenon; they occur often enough to be … development of many crises, including the current subprime crisis. Governments have reacted to crises by erecting a vast and … supervision. The unwinding of the current crisis will mark a big enlargement of the safety net and moral hazard, as well as a …

The historical record shows that financial crises are far from being a rare a phenomenon; they occur often enough to be … development of many crises, including the current subprime crisis. Governments have reacted to crises by erecting a vast and … supervision. The unwinding of the current crisis will mark a big enlargement of the safety net and moral hazard, as well as a …

composition of public debt (i.e. rollover/sudden stop risk) than on its level per se. We also uncover significant nonlinear … effects at high levels of public debt as well as significantly negative risk premia for major reserve currencies, which enjoy …

We show that exposure to foreign currency debt does not necessarily increase the risk of having a financial crisis … periods, aggregate balance sheet mismatches are associated with a greater likelihood of a crisis. The evidence suggests that … foreign currency debt is dangerous when mis-managed. This is part of the difference between developed countries and emerging …