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Eric Leeper ADEMU Lecture (15 Mar)

Abstract: Governments issue debt denominated in two forms: real debt, which is a claim to real resources, and nominal debt, which is a claim to currency. Euro Area countries, who do not individually control their monetary policies, effectively issue real debt, while nations with monetary sovereignty—the U.K., the U.S., and Japan, for example—mostly issue nominal debt. Debt denomination carries important implications for a country’s fiscal sustainability. This talk explores those implications and applies them to the slow-growth and low-inflation problems that many countries now face.
When Mar 15, 2016
from 05:00 PM to 06:00 PM
Where Meade Room, Faculty of Economics
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 Eric Leeper Ademu Lecture

Professor Leeper's bio

Tuesday 15th March 2016

5pm-6pm

Meade Room, Faculty of Economics

  “Fiscal sustainability: What makes the Euro Area different?” 

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