Limiting the accumulation of public debt in democracies has always been a problem, but it has become a particularly pressing one in the last few decades.
Catenarian fiscal discipline
Hans Gersbach, 4 January 2014
Dumping Russia in 1998 and Lehman ten years later: Triple time-inconsistency episodes
Guillermo Calvo, 31 August 2009
In the last decade we have witnessed two major systemic financial crises, namely, the 1998 Russian crisis and the current crisis, the latter initially associated with the subprime mortgage market (henceforth, subprime crisis). A critical event in the subprime crisis was the Lehman Brothers’ episode in September 2008.
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
Cadot, de Melo, 16 June 2014