Señores y señoras tengo el agrado de anunciarles que ya podemos declarar ganada la batalla cultural contra los organismos internacionales
Hoy encontré esta nota en The Economist que hace referencia a este paper del FMI
La idea principal es que si un país esta muy endeudado, debe elegir no atender los pagos de la deuda si quiere crecer.
For these countries, the wonks argue that the costs of raising taxes
or cutting useful spending to reduce debt levels outweighs any benefits.
For countries safely in the green zone, the authors present an example
of a country reducing its debt from 120% to 100% of GDP. They calculate
that the expected costs of the higher taxation (for instance, from the
disincentives to work created by increased tax rates) are likely to
outweigh the expected benefits (from the lower risk of a default in the
event of a crisis) by a factor of ten.
What should such countries
do instead? The best thing, the paper says, is simply to let economic
growth take its course. In the long run, if the economy grows more
quickly than debt, the burden of it will fall as a percentage of GDP.
Basicamente Nestornomics 101.
Basicamente Nestornomics 101.
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