The Liquidation of Government Debt

The Liquidation of Government Debt
High public debt often produces the drama of default and restructuring. But debt is alsoreduced through financial repression, a tax on bondholders and savers via negative or belowmarketreal interest rates. After WWII, capital controls and regulatory restrictions created acaptive audience for government debt, limiting tax-base erosion. Financial... READ MORE...

Publication date: January 2015
ISBN 9781484369234
$18.00

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