Overview
Questions whether a link exists between debt and crisis, and whether an economic crisis truly affects debt
Provides a comprehensive exposition of the (potential) contributors to debt, especially in times of crisis
Analyzes the impact of social security, tariffs and bonds to debt
Proposes an alternative, actuarial approach in the pricing of debt
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Table of contents (8 chapters)
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Front Matter
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Back Matter
Keywords
About this book
Debt, private and public, and in particular excessive debt, has been debated to be one of the root causes of economic crises. At the same time, economic crises are believed to lead to an increase of debt. This book, through a range of contributors, explores certain constituents of an economy and attempts to identify their contribution to debt (public and private), especially in times of crisis; namely, bonds, tariffs, social security and non-performing loans (NPLs). Furthermore, it captures the (implicit) impact of the demography on debt through tariffs and social security and investigates the effect of quantitative easing/purchase programs and as well as crises on debt. In addition, the (cost of the) reserve that a state may want to provision for, in order to secure its economy from defaulting within a certain time horizon, is also addressed and calculated. This calculation offers an alternative valuation, or pricing, of (excess) debt (default protection).
This book aims to offer a comparative study of countries – especially those with a history of excessive debt - and intends to realize whether an economic crisis can genuinely deteriorate debt, or whether the debt unsustainability is preexisting to the crisis. It will be relevant to students and researchers interested in economic policy and growth.
Editors and Affiliations
About the editor
Thomas Poufinas is an Assistant Professor at the Department of Economics, Democritus University of Thrace, Greece.
Bibliographic Information
Book Title: Debt in Times of Crisis
Book Subtitle: Does Economic Crisis Really Impact Debt?
Editors: Thomas Poufinas
DOI: https://doi.org/10.1007/978-3-030-74162-4
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
Hardcover ISBN: 978-3-030-74161-7Published: 28 August 2021
Softcover ISBN: 978-3-030-74164-8Published: 29 August 2022
eBook ISBN: 978-3-030-74162-4Published: 27 August 2021
Edition Number: 1
Number of Pages: XXIII, 271
Number of Illustrations: 1 b/w illustrations, 44 illustrations in colour
Topics: Social Choice/Welfare Economics/Public Choice/Political Economy, Financial Crises, Economic Growth