Dias, Daniel A., Wright, Mark L. J., (2015), “Alternative measures of government indebtedness”,Voxeu, 13 November.
Measured as a percentage of its GDP, Greece’s debt is higher than that of Portugal and Ireland. This column discusses a range of new techniques for measuring the debts of Greece, Ireland, and Portugal. It argues that plausible alternative measures of indebtedness suggest that Greece is anywhere from as much as 50% more indebted than Portugal and Ireland to as little as half as indebted. The most reasonable measures imply that Greece is far less indebted than is commonly reported.
Relevant Posts
- , Konstantinos, (2015), “The quest for banking stability in the euro area: The role of government interventions”, Journal of International Financial Markets, Institutions and Money, 25 September.
- Michel-Paul, Jean, (2015), ” Growing Government Debt Will Test Euro-Zone Solidarity”, Bloomberg View, 12 October.