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“Staatsschulden sind keineswegs kostenlos (Free Government Debt?),” NZZ, 2021

Summary:
NZZ, February 1, 2021. PDF. (Title changed by NZZ.) Do negative interest rates render government debt costless? No. What about r

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NZZ, February 1, 2021. PDF. (Title changed by NZZ.)

Do negative interest rates render government debt costless? No. What about r<g? I discuss Olivier Blanchard’s presidential address and the conclusions that columnists have drawn.

For background: See this post.

Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

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