News
Bloomberg | Spain Says Deficit Target Must Wait 2 More Years Amid Slump
Spanish Prime Minister Mariano Rajoy sought a two-year extension to meet European Union deficit rules, as he lowered his growth forecast and predicted little relief from a record 27 percent unemployment rate.
Econ Comments & Analysis
NY Times | Debt, Growth and the Austerity Debate
In May 2010, we published an academic paper, “Growth in a Time of Debt.” Its main finding, drawing on data from 44 countries over 200 years, was that in both rich and developing countries, high levels of government debt — specifically, gross public debt equaling 90 percent or more of the nation’s annual economic output — was associated with notably lower rates of growth.
