Savvides, Savvakis C. (2017): Policy Should Focus on the Need to Overcome Private Indebtedness.
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Abstract
The author emphasizes the need to address private indebtedness as the main cause of the problem which manifests itself in a huge amount of non-performing loans following the bail-in of deposits of 2013. The focus should not be on how to compensate depositors or bond holders or even shareholders of the affected banks. It should be on how the over-indebted businesses and households can lighten their debt burden and be in a position to engage in normal economic activity in a stable and sustainable manner.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Policy Should Focus on the Need to Overcome Private Indebtedness |
| Language: | English |
| Keywords: | Balance Sheet Recession, Debt Deflation Spiral, Sustainable Growth, Debt Minimization |
| Subjects: | D - Microeconomics > D6 - Welfare Economics > D61 - Allocative Efficiency ; Cost-Benefit Analysis |
| Item ID: | 82467 |
| Depositing User: | Savvakis C. Savvides |
| Date Deposited: | 12 Nov 2017 10:09 |
| Last Modified: | 03 Oct 2019 17:26 |
| References: | Manison, Leslie Graeme and Savvides, Savvakis C., Neglect Private Debt at the Economy's Peril (December 1, 2016). World Economics Journal, Vol. 18, No. 1, January–March 2017. Available at SSRN: https://ssrn.com/abstract=2886345 or http://dx.doi.org/10.2139/ssrn.2886345 |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/82467 |
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