Thursday, September 18, 2014

The Great Debt Debate

Newsart for The Great Debt Debate

In the wake of the global economic crisis, mounting public debt, whether stemming from fiscal stimulus or bank bailouts, has forced governments in Europe, Japan, and elsewhere to pursue fiscal consolidation, with more to come, including in the US. But is immediate fiscal consolidation a false panacea? At what point, and under what conditions, do high public-debt levels really matter?

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