Global Outlook for Government Debt (Gagnon and Hinterschweiger)

The global outlook for government debt over the next 25 years: implications for the economy and public policy by Joseph E. Gagnon with Marc Hinterschweiger, published by PIIE. This study addresses a fundamentally new feature of the contemporary world economy: the simultaneous buildup of very large public deficits and debts positions in virtually all of the advanced high-income countries. The analysis finds that the current public debt profiles in most advanced economies will grow to dangerous and unsustainable levels over the next couple of decades unless major changes are made in projected spending and revenue levels.