Public versus private debt
DOI:
https://doi.org/10.13133/2037-3643/10627Keywords:
Public debt, Private debtAbstract
During the past decade several distinct ‘debt problems' have been experienced. These include the debt crisis of the less developed countries and, generally, the more recent excessive private debt. The latter-day conventional wisdom that only public debt matters is criticised. It is argued that in a world in which public debt matters, private debt is normally relevant as well.
JEL: F34, E21
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