文章基本信息

标题：The Dynamic Relationship Between Global Debt and Output
本地全文：下载
作者：Yun Jung Kim ; Jing Zhang ; Caroline Beetz Fenske 等
期刊名称：Chicago Fed Letter
印刷版ISSN：0895-0164
出版年度：2021
卷号：2021
语种：English
出版社：Federal Reserve Bank of Chicago
摘要：The global economy has reached record levels of indebtedness, to the concern of researchers and policymakers. On the one hand, debt can be beneficial by smoothing out consumption and accelerating capital accumulation, and thus contributing to economic output. On the other hand, rising debt increases debt service costs and can potentially expose countries to financial risks and lower output. In particular, a large expansion of debt can be associated with a significant economic contraction that can last for years.