Private Sector Deleveraging and Growth Following Busts:
Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private sector deleveraging experiences across 36 advanced and emerging economies countries sin...
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
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Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 35
|
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private sector deleveraging experiences across 36 advanced and emerging economies countries since 1960. We consider the common features and divergent experiences of deleveraging episodes across countries, and analyze empirically the impact of different aspects of deleveraging during the bust phase of leverage cycles on subsequent medium-term growth. The results suggest that larger and quicker unwinding of non-financial sector debt overhangs is associated with sizable medium-term output gains, and that policies should focus on facilitating up-front balance sheet adjustment |
Beschreibung: | 1 Online-Ressource (37 p) |
ISBN: | 1498333400 9781498333405 |
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illustrated | Not Illustrated |
index_date | 2024-07-03T20:13:36Z |
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record_format | marc |
series2 | IMF Working Papers: Working Paper No. 15 / 35 |
spelling | Chen, Sally Verfasser aut Private Sector Deleveraging and Growth Following Busts Chen, Sally Washington, D.C International Monetary Fund 2015 1 Online-Ressource (37 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 35 Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private sector deleveraging experiences across 36 advanced and emerging economies countries since 1960. We consider the common features and divergent experiences of deleveraging episodes across countries, and analyze empirically the impact of different aspects of deleveraging during the bust phase of leverage cycles on subsequent medium-term growth. The results suggest that larger and quicker unwinding of non-financial sector debt overhangs is associated with sizable medium-term output gains, and that policies should focus on facilitating up-front balance sheet adjustment Online-Ausg Kim, Minsuk Sonstige oth Otte, Marijn Sonstige oth Wiseman, Kevin Sonstige oth Zdzienicka, Aleksandra Sonstige oth http://www.elibrary.imf.org/view/IMF001/22369-9781498333405/22369-9781498333405/22369-9781498333405.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Chen, Sally Private Sector Deleveraging and Growth Following Busts |
title | Private Sector Deleveraging and Growth Following Busts |
title_auth | Private Sector Deleveraging and Growth Following Busts |
title_exact_search | Private Sector Deleveraging and Growth Following Busts |
title_exact_search_txtP | Private Sector Deleveraging and Growth Following Busts |
title_full | Private Sector Deleveraging and Growth Following Busts Chen, Sally |
title_fullStr | Private Sector Deleveraging and Growth Following Busts Chen, Sally |
title_full_unstemmed | Private Sector Deleveraging and Growth Following Busts Chen, Sally |
title_short | Private Sector Deleveraging and Growth Following Busts |
title_sort | private sector deleveraging and growth following busts |
url | http://www.elibrary.imf.org/view/IMF001/22369-9781498333405/22369-9781498333405/22369-9781498333405.xml |
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