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← During post-2008 fiscal consolidation, the costs of high public debt…
17 connected korrents · 12 moments from 11 Feb 2019 to 7 Sept 2026.
Everything filed under public debt
public debt
Everything filed under fiscal policy
fiscal policy
Everything filed under America
America
Everything filed under inflation
inflation
Everything filed under quantitative easing
quantitative easing
Everything filed under tariffs
tariffs Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity. During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: The main obstacle to sound fiscal policy debate is a widespread, quasi-religious belief that public debt is inherently bad. — tap to centre the map on it The main obstacle to sound fiscal policy debate is a widespread, quasi-religious belief that public debt is inherently bad. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster. — tap to centre the map on it Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them. — tap to centre the map on it Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: The lower a country's neutral interest rate, the smaller the fiscal and welfare costs of public debt and the larger its welfare benefits. — tap to centre the map on it The lower a country's neutral interest rate, the smaller the fiscal and welfare costs of public debt and the larger its welfare benefits. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. — tap to centre the map on it When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. Last stated 3 years ago
6 Nov 2023
OB
Olivier Blanchard — holds since 2019-02-11 — tap for who they are
OB
Olivier Blanchard — no longer holds since 2023-11-06 — tap for who they are
Same subject: The real danger of high government debt is the policy errors it provokes, not a debt crisis. — tap to centre the map on it The real danger of high government debt is the policy errors it provokes, not a debt crisis. Last stated 2 months ago
28 Aug 2026
BC
Ben Carlson — holds since 2026-08-28 — tap for who they are
Same subject: A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. — tap to centre the map on it A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. Last stated 2 months ago
21 Aug 2026
RD
Ray Dalio — holds since 2026-08-21 — tap for who they are
Same subject: A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. — tap to centre the map on it A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals. — tap to centre the map on it Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals. Last stated 2 years ago
24 Sept 2024
LA
Lyn Alden — holds since 2024-09-24 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. — tap to centre the map on it Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost. — tap to centre the map on it A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost. Last stated 7 months ago
1 Apr 2026
TP
Thuan Pham — holds since 2026-04-01 — tap for who they are
Same subject: An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation. — tap to centre the map on it An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation. Last stated 7 months ago
11 Mar 2026
LA
Lyn Alden — holds since 2026-03-11 — tap for who they are
Same subject: Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022. — tap to centre the map on it Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022. Last stated 4 years ago
25 Jul 2022
NS
Noah Smith — holds since 2022-07-25 — tap for who they are
Same subject: A trade dispute escalated by aggressive tariffs can still end in a negotiated outcome that leaves all sides better off. — tap to centre the map on it A trade dispute escalated by aggressive tariffs can still end in a negotiated outcome that leaves all sides better off. Last stated a year ago
30 May 2025
GS
Guy Spier — holds since 2025-05-30 — tap for who they are
Same subject: America's large trade deficit in manufactured goods means fewer US manufacturing jobs than balanced trade would. — tap to centre the map on it America's large trade deficit in manufactured goods means fewer US manufacturing jobs than balanced trade would. Last stated a month ago
7 Sept 2026
PK
Paul Krugman — holds since 2026-09-07 — tap for who they are
Same subject: Erratic U.S. tariff implementation is teaching allies and enemies that the U.S. is no longer a reliable trading partner. — tap to centre the map on it Erratic U.S. tariff implementation is teaching allies and enemies that the U.S. is no longer a reliable trading partner. Last stated 8 months ago
9 Feb 2026
JC
JL Collins — holds since 2026-02-09 — tap for who they are
At the centre
During post-2008 fiscal consolidation, the costs of high public debt were overestimated and fiscal multipliers were underestimated, understating the output costs of austerity.
Holds Read this korrent →
The main obstacle to sound fiscal policy debate is a widespread, quasi-religious belief that public debt is inherently bad.
Holds
Automatic fiscal stabilizers give fiscal policy an advantage over monetary policy in stabilizing output because they act faster.
Holds
Fiscal multipliers vary across time and place but are generally nonzero, positive for spending, negative for taxes, and larger when monetary policy cannot offset them.
Holds
The lower a country's neutral interest rate, the smaller the fiscal and welfare costs of public debt and the larger its welfare benefits.
Holds
When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost.
No longer holds
The real danger of high government debt is the policy errors it provokes, not a debt crisis.
Holds
A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement.
Holds
A fiscal expansion when the economy is already at potential output prompts monetary tightening that dampens or eliminates its effect on output.
Holds
Since the Global Financial Crisis, unconventional monetary policy has become the dominant force driving asset prices, more than fundamentals.
Holds
A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate.
Holds
Canceling government bonds held by a central bank creates no fiscal space, because the reduction in government interest payments is exactly offset by an equal reduction in the profits the central bank remits to the government.
Holds
A company's staff-engineer bar should be set against the best companies in the industry rather than against its own history, which is what makes title inflation a real cost.
Holds
An economy on a fixed, unprintable base money supply can sustain rapid long-run growth with zero cumulative price inflation.
Holds
Cash welfare benefits contributed at least somewhat to the inflation of 2021-2022.
Holds
A trade dispute escalated by aggressive tariffs can still end in a negotiated outcome that leaves all sides better off.
Holds
America's large trade deficit in manufactured goods means fewer US manufacturing jobs than balanced trade would.
Holds
Erratic U.S. tariff implementation is teaching allies and enemies that the U.S. is no longer a reliable trading partner.
Holds