Gaspar, Vitor, Moreno Badia, Marialuz, (2016), “Big Bad Actors: A Global View of Debt”, iMF Direct, 5 October
In the midst of the Great Depression, the American economist Irving Fisher warned of the dangers of excessive debt and the deflationary pressures that follow on its tail. He saw debt and deflation as the big, bad actors. Now, their close relatives—too high debt and too low inflation—are still in play, at least for advanced economies.
Relevant Posts
- International Monetary Fund, (2016), “Fiscal Monitor: Debt—Use It Wisely”, IMF, October
- Reinhart, Carmen, (2016), “The Perils of Debt Complacency”, Project Syndicate, 28 September