Economics

The euro area sovereign debt crisis and the sovereign debt Laffer curve: a historic assessment for 1999–2014

D. C. P. Bhimjee

Explore the intricate historical evolution of sovereign debt in the Euro Area, unraveling the connection between public debt and economic output through the innovative sovereign debt Laffer curve. This enlightening research by Diptes C. P. Bhimjee provides valuable insights for navigating future debt crises and formulating sustainable fiscal policies.

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Playback language: English

Index

Abstract

This article examines the historical evolution of sovereign debt trajectories in the Euro Area from its inception to the sovereign debt crisis, using economic concepts from previous debt events. It introduces the sovereign debt Laffer curve to explain the non-linear relationship between economic output and public debt. The article connects various concepts like debt vulnerability, debt overhang, and illiquidity vs. insolvency under the Laffer curve framework. This historical perspective offers insights for analyzing future sovereign debt crises and designing sustainable public debt policies.

Publisher

Humanities and Social Sciences Communications

Published On

Apr 29, 2023

Authors

Diptes C. P. Bhimjee

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