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Are Large Deficits and Debt Dangerous?

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NBER2020-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w26727
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The Traditional View (TV) of large deficits and debt is they have large economic costs, save in a recession and early recovery, because they crowd out investment and lower future income, and taken to extremes, can cause inflation and even a financial crisis. The TV has been challenged, most
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2020-02-01
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