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Barry Eichengreen on the New Era of High Government Debt

Odd Lots

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Navigating High Government Debt

This chapter examines the growing issue of high government debt and its effects on economic management, particularly amid rising interest rates and recent credit rating downgrades. It contrasts fiscal policies from the 2010s to the more proactive approaches of the 2020s while analyzing the implications for inflation and central banking. The discussion also distinguishes between 'good debt' meant for growth and 'bad debt' that hinders financial stability, drawing historical parallels to navigate today's challenges.

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