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What we owe : truths, myths, and lies about public debt / Carlo Cottarelli.
Author
Cottarelli, Carlo
[Browse]
Format
Book
Language
English
Published/Created
Washington, D.C. : Brookings Institution Press, [2017]
©2017
Description
190 pages : illustrations ; 24 cm
Availability
Available Online
JSTOR DDA
Ebook Central Perpetual, DDA and Subscription Titles
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Call Number
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Notes
Firestone Library - Stacks
HJ8015 .C67 2017
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Subject(s)
Debts, Public
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Summary note
"The euro crisis, Japan's sluggish economy, and partisan disagreements in the United States about the role of government all have at least one thing in common: worries about high levels of public debt. Nearly everyone agrees that public debt in many advanced economies is too high to be sustainable and must be addressed. There is little agreement, however, about when and how that addressing should be done--or even, in many cases, just how serious the debt problem is. As the former director of the International Monetary Fund's Fiscal Affairs Department, Carlo Cottarelli has helped countries across the globe confront their public finance woes. He also had direct experience in advising his own country, Italy, about its chronic fiscal ailments. In this straightforward, plain-language book, Cottarelli explains how and why excessive public debt can harm economic growth and can lead to crises such as those experienced recently in Italy and several other European countries. But Cottarelli also has some good news: reducing public debt often can be done without trauma and through moderate changes in spending habits that contribute to economic growth. His book focuses on positive remedies that countries can adopt to deal with their public debt, analyzing both the benefits and potential downsides to each approach, as well as suggesting which remedies might be preferable in particular situations. Too often, public debate about public debt is burdened by lies and myths. This book not only explains the basic facts about public debt but also aims to bring truth and reasoned nonpartisan analysis to the debate."--Publisher's description.
Notes
Includes index.
Bibliographic references
Includes bibliographical references (pages 171-183) and index
Contents
Introduction
PART I: The Public Debt Problem
1. What is public debt?
2. The surge in public debt
3. How high public debt can cause a financial crises
4. How high public debt can reduce economic growth
5. Public debt, moral imperative and politics
6. A pause to recap
PART II: The Shortcuts
7. Printing money
8. First case study : should European countries leave the Euro Zone?
9. Financial repression
10. Default
11. Second case study : the Greek Crisis
12. Debt mutualization
13. Privatization
PART III: The Main Road
13. Economic growth
15. A bit of austerity
16. Institutional fiscal constraints
Conclusion : the unbearable lightness of public debt
Show 18 more Contents items
ISBN
9780815730675 ((cloth ; : alk. paper))
0815730675 ((cloth ; : alk. paper))
LCCN
2017020200
OCLC
994287467
Statement on language in description
Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage.
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What we owe : truths, myths, and lies about public debt / Carlo Cottarelli.
id
99105318433506421
What we owe : truths, myths, and lies about public debt / Carlo Cottarelli.
id
99125356519706421