Dealing with High Debt in an Era of Low Growth

Author/Editor:

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

Publication Date:

September 23, 2013

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Summary:

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.

Series:

Staff Discussion Notes No. 2013/007

Subject:

English

Publication Date:

September 23, 2013

ISBN/ISSN:

9781484316139/2617-6750

Stock No:

SDNEA2013007

Pages:

32

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