Dealing with Debt in an Era of Low Growth
2013-09-30 | Schumpeter Saal,DIW Berlin im Quartier 110,Anton-Wilhelm-Amo-Straße 58,10117 Berlin
12.00 - 1.00 p.m. // Presentation: Prof. Dr. Helge Berger, Advisor, International Monetary Fund (IMF)Chair: Prof. Marcel Fratzscher, Ph.D., President, DIW BerlinMuch of Europe is gradually emerging from recession, but many observers see growth at very moderate levels in the years ahead. This will make dealing with high sovereign debt - not an easy task even in the best of times - more difficult, and could shift much of the burden of adjustment to fiscal policy. So can it work? A new IMF Staff Discussion Note looks at the historical record to answer the question. It finds that debt reversals happen even when times are tough, but they tend to be hard-earned, smaller, and less frequent. The Note then explores the options policymakers have to ease the adjustment in what could prove to be a very challenging macroeconomic environment in the years to come.Available on web starting September 26: http://www.imf.org/external/pubs/cat/createx/Publications.aspx?page=sdnThis event will be held in English. Thank you for registering by September 26 to events@diw.de .
