Sovereign ratings when default can come explicitly or via inflation
Goodhart, Charles. Inflation in the UK is now more than double that of France, but only one country has had its credit rating downgraded. This column argues that government credit ratings should be aided by a second rating measuring the potential loss of real value, whether by inflation or default. Πηγή: Voxeu πλήρες κείμενο
Fiscal Adjustment: Too Much of a Good Thing?
Cottarelli, Carlo. The IMF has argued for some time that the very high public debt ratios in many advanced economies should be brought down to safer levels through a gradual and steady process. Doing either too little or too much both involve risks: not enough fiscal adjustment could lead to a loss of market confidence […]