Becchetti, Leonardo and Scaramozzino, Pasquale (2021) 'COVID-19 debt relief.' Scienza e Pace - Science and Peace, 12 (2). pp. 1-25.
This is the latest version of this item.
|
Text
- Published Version
Download (100kB) | Preview |
Abstract
The COVID-19 pandemic has been a global shock with dramatic consequences on debts of governments called to alleviate the economic and social impact of the crisis on firms and households. We explore conditions for the feasibility of (COVID-19 generated) government debt relief, justified in principle by the exogenous characteristics of the shock. We outline several technically and economically feasible ways (involving debt “freezing”, debt rescheduling or outright debt cancellation) for achieving this goal and discuss their consequences on moral hazard and the Central Bank balance sheets, as well as their potential impact on CB’s independence, reputation and, ultimately, on inflation and exchange rates. We also discuss the distributive concerns which arise when a CB (as in the Eurozone) operates in a Union with several sovereign member states.
| Item Type: | Journal Article |
|---|---|
| Keywords: | Covid, sovereign debt |
| SOAS Departments & Centres: | Departments and Subunits > School of Finance & Management SOAS Working Papers |
| Subjects: | H Social Sciences > HJ Public Finance |
| ISSN: | 20391749 |
| Date Deposited: | 04 Apr 2022 10:38 |
| URI: | https://eprints.soas.ac.uk/id/eprint/36987 |
| Related URLs: |
https://scienza ... 44c7e58b98.html
(Publisher URL)
|
Altmetric Data
There is no Altmetric data currently associated with this item.Available Versions of this Item
-
COVID-19 debt relief. (deposited 06 Jan 2021 18:59)
- COVID-19 debt relief. (deposited 04 Apr 2022 10:38) [Currently Displayed]
Statistics
Accesses by country - last 12 months | Accesses by referrer - last 12 months |
Repository staff only
 |
Edit Item |