Swiftly expanding public debt to support macroeconomic adjustment is entirely warranted to tackle the pandemic, and this process is facilitated by mammoth intervention from the central banks. Meanwhile, low interest…
I wish you all a very happy and healthy new year. May you and your loved ones start the year ahead in the best possible circumstances. This year is set…
Public debt would be at its highest in 2021, higher than at the end of World War II. Growth will not make it possible to reduce the ratio of public…
I look forward to the day my grandchildren ask me “Why didn’t you invest when interest rates were negative? It could have limited global warming as we burn today. ”…
Bottom line: the cost of public debt may be substantially smaller than current consensus. Therefore austerity policy is never the answer as it is too costly Olivier Blanchard presidential address…
Despite the agreement between the Italian government and the European Commission, the question of the Italian public debt sustainability is not solved. The marginal move from the government (reducing its…
The European Commission has just told Italy to revise its 2019 budget plan: the deficit does not look excessive (2.4%), but the figure is deemed to be fragile as growth…
This post is available in pdf format My Tuesday Column – 1 October 2018 French public debt stands at close to 100% of GDP, but is this really a cause for…
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