The Resource Debt and Macroeconomic Stability: Debt and the Business Cycle, Volker Ziemann, (electronic resource)

Debt and Macroeconomic Stability: Debt and the Business Cycle, Volker Ziemann, (electronic resource)

Label
Debt and Macroeconomic Stability: Debt and the Business Cycle
Title
Debt and Macroeconomic Stability: Debt and the Business Cycle
Statement of responsibility
Volker Ziemann
Creator
Subject
Language
eng
Summary
Using a large panel of OECD countries this paper studies the link between debt and macroeconomic stability by comparing the evolution of balance sheet aggregates and economic output in high- and lowdebt environments. While the relationship between debt and economic growth has been extensively studied in the literature, only little attention has been paid to the impact of debt on volatility and higher moments of output growth distributions. This paper fills in this gap. Debt-fuelled expansions are found to typically last longer but to culminate in a more sizeable downturn. The greater amplitude of business cycles in high-debt environments reflects higher macroeconomic volatility but also higher tail risks and adverse asymmetries in output growth distributions. The induced welfare losses justify policy interventions aiming at preventing excessive build-ups in debt ex-ante
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Ziemann, Volker
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
Series statement
OECD Economics Department Working Papers,
Series volume
no.1005
http://library.link/vocab/subjectName
  • Economics
  • Economics
Label
Debt and Macroeconomic Stability: Debt and the Business Cycle, Volker Ziemann, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
826025936
Dimensions
21 x 30 cm
Extent
1 electronic resource 25 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k8xb7613x9s-en
Specific material designation
remote
System control number
(OCoLC)826025936
Label
Debt and Macroeconomic Stability: Debt and the Business Cycle, Volker Ziemann, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
826025936
Dimensions
21 x 30 cm
Extent
1 electronic resource 25 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k8xb7613x9s-en
Specific material designation
remote
System control number
(OCoLC)826025936

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