HKS Affiliated Authors

Additional Authors:

  • Kenneth Rogoff

Excerpt

Austerity is Not the Only Answer to a Debt Problem. Carmen Reinhart, Kenneth Rogoff, May 1, 2013, Article. "The recent debate about the global economy has taken a distressingly simplistic turn. Some now argue that just because one cannot definitely prove very high debt is bad for growth (though the weight of the results still say it is), then high debt is not a problem. Looking beyond the recent public debate about the literature on debt - we have already discussed our results on debt and growth in that context - the debate needs to be reconnected to the facts. Let us start with one: the ratios of debt to gross domestic product are at historically high levels..." Link