Public debt in advanced countries: problems and solutions
Public debt has surged in most advanced economies since 2007 and remains at historically high levels in many of them. What are the effects of this surge for economic stability and growth? Why have interest rates on government securities remained so low in spite of the rising supply of government securities? And, most of all, if high public debt is a problem, what is the solution. Carlo Cottarelli will discuss these issues based on a book (“What we owe”) that will be published in September. He will argue that there is a need to gradually lower public debt and that this is achievable through orthodox fiscal policy too, as long as high debt countries, particularly those more vulnerable, do not procrastinate the adjustment in their spending levels.
Date: 15 May 2017, 17:00 (Monday, 4th week, Trinity 2017)
Venue: St Antony's College - North Site
Venue Details: Seminar Room, European Studies Centre, 70 Woodstock Road, Oxford OX2 6HR
Speaker: Carlo Cottarelli (Executive Director for Italy)
Organising department: European Studies Centre
Organiser: Julie Adams (St Antony's College, University of Oxford)
Organiser contact email address:
Hosts: David Vines (Balliol College, University of Oxford), Adam Bennett (St Antony's College, University of Oxford)
Part of: Political Economy of Financial Markets (PEFM)
Booking required?: Not required
Audience: Public
Editor: Julie Adams