000			02070nam a2200349 i 4500
001			CR9781009218528
003			UkCbUP
005			20240906175234.0
006			m|||||o||d||||||||
007			cr||||||||||||
008			211111s2022||||enk o ||1 0|eng|d
020			_a9781009218528 (ebook)
020			_z9781009218481 (paperback)
040			_aUkCbUP _beng _erda _cUkCbUP
050		4	_aHJ8015 _b.S34 2022
082	0	4	_a336.34 _223
100	1		_aSchuknecht, Ludger, _d1962- _eauthor.
245	1	0	_aDebt sustainability : _ba global perspective / _cLudger Schuknecht.
264		1	_aCambridge : _bCambridge University Press, _c2022.
300			_a1 online resource (110 pages) : _bdigital, PDF file(s).
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
490	0		_aCambridge elements. Cambridge elements in international economics _x2753-9326
500			_aTitle from publisher's bibliographic system (viewed on 31 Aug 2022).
520			_aThis study presents the facts, arguments and scenarios around public debt from a global perspective. Especially the largest economies feature record debt and fiscal risks, including from population ageing and financial imbalances. Given low interest rates, there is no imminent problem. But at some point, debt will have to come down. There are four possible scenarios how debt could come down. First, governments could economise and reform. Second, governments could default. Third, governments could erode the real value of debt via inflation and negative real interest rates. However, this scenario cannot continue forever. Policy errors can prompt a loss of confidence, destabilisation and crisis. This fourth scenario last included the largest economies in the 1970s. It would become a major global challenge if it were to happen again in today's interconnected world.
650		0	_aDebts, Public.
650		0	_aFiscal policy.
776	0	8	_iPrint version: _z9781009218481
856	4	0	_uhttps://doi.org/10.1017/9781009218528
942			_2ddc _cEB
999			_c9417 _d9417