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Philippe Waechter's blog

DIRECTOR OF ECONOMIC RESEARCH, OSTRUM AM

A dynamic and cyclical approach to the global economy

  • 244 views

Public debt – Private debt: the real heart of the matter is not where we think (Part 2)

  • 29 August 2017
  • Public Debt

Philippe Waechter

In last week’s column (see here), I discussed the importance of public debt as an asset that enables wealth to be transferred to a date in the future, while restricting…
  • Private Debt
READ
  • 276 views

Public debt – Private debt: the real heart of the matter is not where we think (Part 1)

  • 21 August 2017
  • Public Debt

Philippe Waechter

Public debt is evil. This is the kind of statement we often see in the press, but it is wrong. If we are going to be concerned about excessive debt…
  • Private Debt
READ
  • 218 views

A Discussion on Public Debt

  • 27 May 2015
  • Euro Area

Philippe Waechter

Is public debt a constraint? Lars P. Syll gave recently an answer by quoting Abba Lerner who, in 1948, made a distinction between private debt and public debt. The first…
  • Fiscal Policy
  • Share of non-residents in the Public Debt holding
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