Financial and sovereign debt crises : some lessons learned and those forgotten /

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Bibliographic Details
Author / Creator:Reinhart, Carmen M., author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2013.
Description:1 online resource (21 pages) : illustrations (some color).
Language:English
Series:IMF working paper, 2227-8885 ; WP/13/266
IMF working paper ; WP/13/266.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12502238
Hidden Bibliographic Details
Other authors / contributors:Rogoff, Kenneth S., author.
International Monetary Fund. Research Department, issuing body.
ISBN:1484331125
9781484331125
9781484331125
Notes:Title from PDF title page (IMF Web site, viewed Dec. 26, 2013).
"Research Department"--Page 2 of pdf.
"December 2013"--Page 2 of pdf.
Includes bibliographical references (pages 18-20).
Summary:"Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their emerging market counterparts. The current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through a mix of austerity, forbearance and growth. The claim is that advanced countries do not need to resort to the standard toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression. As we document, this claim is at odds with the historical track record of most advanced economies, where debt restructuring or conversions, financial Repression, and a tolerance for higher inflation, or a combination of these were an integral part of the resolution of significant past debt overhangs"--Abstract.
Other form:Print Version: 9781484331125
Standard no.:10.5089/9781484331125.001

MARC

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245 1 0 |a Financial and sovereign debt crises :  |b some lessons learned and those forgotten /  |c Carmen M. Reinhart and Kenneth S. Rogoff. 
260 |a [Washington, D.C.] :  |b International Monetary Fund,  |c ©2013. 
300 |a 1 online resource (21 pages) :  |b illustrations (some color). 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/13/266 
500 |a Title from PDF title page (IMF Web site, viewed Dec. 26, 2013). 
500 |a "Research Department"--Page 2 of pdf. 
500 |a "December 2013"--Page 2 of pdf. 
520 |a "Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their emerging market counterparts. The current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through a mix of austerity, forbearance and growth. The claim is that advanced countries do not need to resort to the standard toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression. As we document, this claim is at odds with the historical track record of most advanced economies, where debt restructuring or conversions, financial Repression, and a tolerance for higher inflation, or a combination of these were an integral part of the resolution of significant past debt overhangs"--Abstract. 
504 |a Includes bibliographical references (pages 18-20). 
505 0 |a Cover; Contents; I. Introduction; II. Financial Liberalization, Financial Crises, and Crisis Prevention; Figures; 1. Varieties of Crises: World Aggregate, 1900-2010; III. Today's Multifaceted Debt Overhang; 2. Gross Central Government Debt as a Percentage of GDP: Advanced and Emerging Market Economies, 1900-2011 (unweighted average); 3. Gross Total (Public plus Private) External Debt as a Percentage of GDP: 22 advanced and 25 emerging market economies, 1970-2011; IV. How Will the Debt Be Reduced?; 4. Private Domestic Credit as a Percentage of GDP, 1950-2011. 
505 8 |a 5. Sovereign Default, Total (domestic plus external) Public Debt, and Inflation Crises: World Aggregates, 1826-20106. Sovereign Default, Total (domestic plus external) Public Debt, and Systemic Banking Crises: Advanced Economies, 1880-2010; Tables; 1. Selected Episodes of Domestic or External Debt Default, Restructuring, or Conversions: Advanced Economies, 1920s-1960s; 2. Defaults on World War I Debt to the United States in the 1930s: Timing and Magnitude; V. The Return of Financial Repression; VI. Final Thoughts; 7. The Sequencing of Crises: The Big Picture; References. 
650 0 |a Financial crises. 
650 0 |a Debts, Public.  |0 http://id.loc.gov/authorities/subjects/sh85036141 
650 0 |a Debt relief.  |0 http://id.loc.gov/authorities/subjects/sh85036133 
650 0 |a Capital movements.  |0 http://id.loc.gov/authorities/subjects/sh85019946 
650 0 |a Inflation (Finance)  |0 http://id.loc.gov/authorities/subjects/sh85066112 
650 6 |a Dettes publiques. 
650 6 |a Mouvements de capitaux. 
650 6 |a Inflation. 
650 7 |a Capital movements.  |2 fast  |0 (OCoLC)fst00846374 
650 7 |a Debt relief.  |2 fast  |0 (OCoLC)fst00888793 
650 7 |a Debts, Public.  |2 fast  |0 (OCoLC)fst00888850 
650 7 |a Financial crises.  |2 fast  |0 (OCoLC)fst00924607 
650 7 |a Inflation (Finance)  |2 fast  |0 (OCoLC)fst00972450 
655 0 |a Electronic books. 
655 4 |a Electronic books. 
700 1 |a Rogoff, Kenneth S.,  |e author.  |0 http://id.loc.gov/authorities/names/n82128349 
710 2 |a International Monetary Fund.  |b Research Department,  |e issuing body.  |0 http://id.loc.gov/authorities/names/n77001219 
776 0 8 |i Print Version:  |z 9781484331125 
830 0 |a IMF working paper ;  |v WP/13/266.  |0 http://id.loc.gov/authorities/names/no89010263 
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