The Debt Burden and its Consequences for Monetary Policy

Proceedings of a Conference held by the International Economic Association at the Deutsche Bundesbank, Frankfurt, Germany

  • Guillermo Calvo
  • Mervyn King

Part of the International Economic Association Series book series (IEA)

Table of contents

  1. Front Matter
    Pages i-xxi
  2. Overview Papers

    1. Front Matter
      Pages 1-1
    2. Mats Persson, Torsten Persson, Lars E. O. Svensson
      Pages 28-66
  3. The Structure and Maturity of Debt

    1. Front Matter
      Pages 67-67
    2. Robert J. Barro
      Pages 69-85
  4. Debt and Domestic Monetary Policy

    1. Front Matter
      Pages 115-115
  5. Debt and International Financial Markets

    1. Front Matter
      Pages 179-179
    2. Guillermo A. Calvo
      Pages 181-207
    3. Peter Kugler
      Pages 208-230
  6. Debt and Monetary Union

    1. Front Matter
      Pages 231-231
    2. Georg Winckler, Eduard Hochreiter, Peter Brandner
      Pages 254-282
  7. Back Matter
    Pages 283-292

About this book


In all countries debt and deficits of the public sector are at the heart of economic policy debate. Debt and deficits pose major problems, all the more pressing in Europe because of the Maastricht criteria for entry into European Monetary Union. And in the developing world debt has been associated with major financial crises. This volume, arising from an International Economic Association conference at the Bundesbank, sees academics and policy makers debate the key issues and their implications in theory and practice.


economic policy financial markets government securities Inflation monetary policy monetary union

Editors and affiliations

  • Guillermo Calvo
    • 1
  • Mervyn King
    • 2
  1. 1.Center for International EconomicsUniversity of MarylandUSA
  2. 2.Bank of EnglandLondonUK

Bibliographic information

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