Unit 1 Macroeconomics Lesson 4

The real effects of debt

The longer-term lesson is that, to build the fiscal buffer ... Mohanty is Head of the Macroeconomic Analysis Unit at the BIS; and Zampolli is ... As modern macroeconomics developed over the last half-century, most people either ignored or finessed the issue of debt. With few exceptions, the focus was on a real economic system

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