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Palgrave Macmillan

The Debt Burden and Its Consequences for Monetary Policy

  • Book
  • © 1998

Overview

Editors:
  1. Guillermo Calvo

    1. Center for International Economics, University of Maryland, USA

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  2. Mervyn King

    1. Bank of England, London, UK

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Part of the book series: International Economic Association Series (IEA)

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xxi
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  2. Overview Papers

    1. Front Matter

      Pages 1-1
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    2. Debt and Monetary Policy: The Policy Issues

      • Rudi Dornbusch
      Pages 3-27

    3. Debt, Cash Flow and Inflation Incentives: A Swedish Example

      • Mats Persson, Torsten Persson, Lars E. O. Svensson
      Pages 28-66

  3. The Structure and Maturity of Debt

    1. Front Matter

      Pages 67-67
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    2. Optimal Funding Policy

      • Robert J. Barro
      Pages 69-85

    3. Global Government Securities Markets: Economics and Politics of Recent Market Microstructure Reforms

      • Randall S. Kroszner
      Pages 86-113

  4. Debt and Domestic Monetary Policy

    1. Front Matter

      Pages 115-115
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    2. Control of the Public Debt: A Requirement for Price Stability?

      • Michael Woodford
      Pages 117-158

    3. Towards a Political-Economic Theory of Domestic Debt

      • Allan Drazen
      Pages 159-178

  5. Debt and International Financial Markets

    1. Front Matter

      Pages 179-179
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    2. Varieties of Capital-Market Crises

      • Guillermo A. Calvo
      Pages 181-207

    3. Debt and Exchange Rates

      • Peter Kugler
      Pages 208-230

  6. Debt and Monetary Union

    1. Front Matter

      Pages 231-231
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    2. Credibility, Seigniorage and Government Debt in a Monetary Union

      • Bernd Huber
      Pages 233-253

    3. Deficits, Debt and European Monetary Union: Some Unpleasant Fiscal Arithmetic

      • Georg Winckler, Eduard Hochreiter, Peter Brandner
      Pages 254-282

  7. Back Matter

    Pages 283-292
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Keywords

About this book

In all countries debt and deficits of the public sector are at the heart of economic policy debate. Debt and deficits pose major problems, all the more pressing in Europe because of the Maastricht criteria for entry into European Monetary Union. And in the developing world debt has been associated with major financial crises. This volume, arising from an International Economic Association conference at the Bundesbank, sees academics and policy makers debate the key issues and their implications in theory and practice.

Editors and Affiliations

  • Center for International Economics, University of Maryland, USA

    Guillermo Calvo

  • Bank of England, London, UK

    Mervyn King

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