G2TT
来源类型Working Paper
规范类型工作论文
The debt challenge in Europe
Alan Ahearne; Guntram B. Wolff
发表日期2012-01-31
出版年2012
语种英语
概述The euro area faces a double challenge: debt overhang and the need for price adjustment. This paper reviews the debt challenges in the household and corporate sectors and maps out some policy options. In particular, we document the increase in private debt prior to the crisis and consider how the corporate and household sectors have adjusted their balance sheets during the crisis.
摘要

The euro area faces a double challenge: debt overhang and the need for price adjustment. This paper reviews the debt challenges in the household and corporate sectors and maps out some policy options. In particular, we document the increase in private debt prior to the crisis and consider how the corporate and household sectors have adjusted their balance sheets during the crisis.

We examine previous experiences with corporate and household deleveraging and draw lessons for policymakers. We show how the macroeconomic effects of balance-sheet adjustments have been in part offset by the use of fiscal deficits, and we discuss the resulting challenges. A key lesson is the importance of maintaining economic growth and avoiding a prolonged doubledip recession in the euro area while facilitating necessary deleveraging in some over-indebted sectors and countries. We also emphasise the need for a growth strategy tailored to southern Europe.

主题European Macroeconomics & Governance
URLhttps://bruegel.org/2012/01/the-debt-challenge-in-europe/
来源智库Bruegel (Belgium)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/429346
推荐引用方式
GB/T 7714
Alan Ahearne,Guntram B. Wolff. The debt challenge in Europe. 2012.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
wp_2012_02_debt__2_.(76KB)智库出版物 限制开放CC BY-NC-SA缩略图
浏览
WP_2012_02_a.pdf(260KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Alan Ahearne]的文章
[Guntram B. Wolff]的文章
百度学术
百度学术中相似的文章
[Alan Ahearne]的文章
[Guntram B. Wolff]的文章
必应学术
必应学术中相似的文章
[Alan Ahearne]的文章
[Guntram B. Wolff]的文章
相关权益政策
暂无数据
收藏/分享
文件名: wp_2012_02_debt__2_.pdf.jpg
格式: JPEG
文件名: WP_2012_02_a.pdf
格式: Adobe PDF

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。