Han Eun's Lecture “National Debt Isn't 'free'... Low Interest Rates Won't Last Forever”
4 Articles
4 Articles
(Seoul=Yonhap News) Reporter Lee Do-hun = Kenneth Rogoff, a professor at Harvard University in the US, said on the 12th that we should be wary of expansionary fiscal policies based on the outlook for continued structural low interest rates...
Professor Kenneth Rogoff criticized the belief that national debt can persist indefinitely and emphasized the need for fiscal normalization in preparation for rising interest rates. He diagnosed the current situation as a debt supercycle and warned of sharp interest rate spikes driven by political and geopolitical factors, as well as the resulting economic risks.
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“The notion that ‘debt is practically a free lunch,’ which has permeated political debates today, is fundamentally wrong.” Kenneth Rogoff, a professor at Harvard University, criticized the “free debt” theory—which has become entrenched in the era of low interest rates—during an invited lecture for employees held at the Bank of Korea headquarters in Jung-gu, Seoul, on the 12th. He argued that while the premise that interest rates will remain low …
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