{"id":6031,"date":"2013-10-18T09:56:23","date_gmt":"2013-10-18T06:56:23","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=6031"},"modified":"2013-10-24T00:53:01","modified_gmt":"2013-10-23T21:53:01","slug":"sovereigns-versus-banks-crises-causes-and-consequences","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/sovereigns-versus-banks-crises-causes-and-consequences\/","title":{"rendered":"Sovereigns versus banks: Crises, causes and consequences"},"content":{"rendered":"<p>Jord\u00e0, \u00d2scar, Schularick,\u00a0Moritz\u00a0 &amp; Taylor,\u00a0 Alan.<\/p>\n<p>In the aftermath of the global financial crisis, few would dispute the risks of excessive borrowing. But which debts should one worry about \u2013 public or private? This column presents new research on the interplay of public and private debts since 1870 in 17 advanced economies. History demonstrates that excessive private-sector borrowing plays a greater role than fiscal profligacy in generating financial instability. However, when the credit boom collapses, the government\u2019s capacity to alleviate the downturn is limited by the prevailing level of public debt.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae:<\/strong> Voxeu<\/p>\n<p><a href=\"http:\/\/www.voxeu.org\/article\/private-and-public-debt-crises-1870-now\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jord\u00e0, \u00d2scar, Schularick,\u00a0Moritz\u00a0 &amp; Taylor,\u00a0 Alan. In the aftermath of the global financial crisis, few would dispute the risks of excessive borrowing. But which debts should one worry about \u2013 public or private? This column presents new research on the interplay of public and private debts since 1870 in 17 advanced economies. History demonstrates that [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,4,38],"tags":[25,27],"class_list":["post-6031","post","type-post","status-publish","format-standard","hentry","category-18","category-proposals","category-38","tag-25","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/6031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=6031"}],"version-history":[{"count":2,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/6031\/revisions"}],"predecessor-version":[{"id":6070,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/6031\/revisions\/6070"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=6031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=6031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=6031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}