Ademu lecture: “Fiscal sustainability: What makes the Euro Area different?”

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• Professor Eric Leeper
• Tuesday 15 March 2016, 17:00-18:00
• Meade Room, Faculty of Economics.

If you have a question about this talk, please contact Cambridge-INET Institute, Faculty of Economics.

Governments issue debt denominated in two forms: real debt, which is a claim to real resources, and nominal debt, which is a claim to currency. Euro Area countries, who do not individually control their monetary policies, effectively issue real debt, while nations with monetary sovereignty—the U.K., the U.S., and Japan, for example—mostly issue nominal debt. Debt denomination carries important implications for a country’s fiscal sustainability. This talk explores those implications and applies them to the slow-growth and low-inflation problems that many countries now face.

This talk is part of the Cambridge-INET Institute, Faculty of Economics series.

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• Meade Room, Faculty of Economics

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