fbpx Public borrowing is cheap but ramping up debt is not without risk | Harvard Kennedy School

Additional Authors:

  • Kenneth Rogoff

Excerpt

December 9, 2019, Opinion, "With interest rates on government debt at multi-decade lows, a number of leading economists have argued that almost every advanced economy can allow debt to drift up towards Japanese levels (over 150% of GDP even by the most conservative measure) without any great concern about long-term consequences. Advocates of much higher debt might be right, but they tend to downplay or ignore everything that can go wrong."

Non-HKS Author Website - Kenneth Rogoff