Why hasn’t Japan’s massive government debt wreaked havoc (yet)?

Charles Yuji Horioka, Takaaki Nomoto, Akiko Terada-Hagiwara, 21 January 2014

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The potential sovereign debt crisis in Japan looks even grimmer than those in the Eurozone economies if one looks only at the gross general government debt-to-GDP ratio.

Topics: Financial markets, International finance
Tags: fiscal sustainability, sovereign debt

Why fiscal sustainability matters

Willem Buiter, 10 January 2014

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Does fiscal sustainability matter only when there is a fiscal house on fire, as was the case with the Greek sovereign insolvency in 2011–12? Far from it.

Topics: Financial markets, Global crisis, International finance, Macroeconomic policy
Tags: balance-sheet recession, banking, banking union, banks, capital flows, credit booms, Currency wars, emerging markets, eurozone, Eurozone crisis, financial crisis, fiscal policy, fiscal sustainability, global financial crisis, sovereign debt, sovereign debt restructuring

Greece and the fiscal crisis in the Eurozone

Willem Buiter, Ebrahim Rahbari, 12 October 2010

CEPR Policy Insight No.51 can be downloaded free of charge from the CEPR website here.

URL: http://www.cepr.org/pubs/PolicyInsights/CEPR_Policy_Insight_051.asp
Topics: Macroeconomic policy
Tags: bail-out, eurozone, fiscal sustainability, sovereign default

Greece and the fiscal crisis in the Eurozone

The Editors, 12 October 2010

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The saga of the Greek public finances continues. But this time, Greece is not the only country that suffers from doubts about the sustainability of its fiscal position. Quite the contrary. The public finances of most countries in the Eurozone are in a worse state today than at any time since the industrial revolution, except for wartime episodes and their immediate aftermaths.

Topics: Macroeconomic policy
Tags: bail-out, eurozone, fiscal sustainability, sovereign default

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