The Liquidation of Government Debt /
High public debt often produces the drama of default and restructuring. But debt is also reduced through financial repression, a tax on bondholders and savers via negative or belowmarket real interest rates. After WWII, capital controls and regulatory restrictions created a captive audience for gove...
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| Médium: | Časopis |
| Jazyk: | English |
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Washington, D.C. :
International Monetary Fund,
2015.
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| Edice: | IMF Working Papers; Working Paper ;
No. 2015/007 |
| On-line přístup: | Full text available on IMF |