Kobayashi, Keiichiro, (2017), «Persistent economic slowdown and emergence of debt-ridden borrowers», VoxEU, 2 Μαΐου
There is concern about the persistent slowdown of economic growth in the aftermath of financial crises. This column presents a framework which shows that excessive debt accumulated by firms and households during a crisis can cause persistent stagnation. Relief from excessive debt has a direct impact on economic growth, whereas unconventional monetary and fiscal policies cannot directly solve the fundamental debt problem.
- Batini, Nicoletta, Melina, Giovanni, Moreno Badia, Marialuz, Villa, Stefania, (2017), «The Role of Fiscal Policy When Private Debt is High», EconoMonitor, 15 Μαρτίου
- Philip Du Caju, François Rycx, Ilan Tojerow, (2016), «Unemployment risk and over-indebtedness»,ECB WP No. 1908, Μάϊος