Book contents
- Frontmatter
- Contents
- Preface and Acknowledgements
- 1 Introduction
- 2 The economics of austerity I
- 3 The economics of austerity II
- 4 The term structure of interest rates
- 5 A simple model
- 6 Austerity in the United Kingdom
- Addendum: options for raising taxation in the UK
- 7 Austerity in the eurozone
- 8 Austerity in the rest of the world
- 9 The optimal time path of government debt (or how should fiscal policy be conducted?)
- 10 Policy in a world where severe deflationary shocks are possible
- 11 Conclusion: when are austerity measures necessary or desirable?
- Appendix: UK Debt–GDP ratios, 1695–2020
- References
- Index
Appendix: UK Debt–GDP ratios, 1695–2020
Published online by Cambridge University Press: 28 December 2023
- Frontmatter
- Contents
- Preface and Acknowledgements
- 1 Introduction
- 2 The economics of austerity I
- 3 The economics of austerity II
- 4 The term structure of interest rates
- 5 A simple model
- 6 Austerity in the United Kingdom
- Addendum: options for raising taxation in the UK
- 7 Austerity in the eurozone
- 8 Austerity in the rest of the world
- 9 The optimal time path of government debt (or how should fiscal policy be conducted?)
- 10 Policy in a world where severe deflationary shocks are possible
- 11 Conclusion: when are austerity measures necessary or desirable?
- Appendix: UK Debt–GDP ratios, 1695–2020
- References
- Index
Summary
Column 1 gives the debt ratio according to Christopher Chantrill’s website, www.ukpublicspending.co.uk. Column 2 gives the ratio according to the Bank of England Millennium database, and Columns 3 and 5 give the face value and market values (respectively) of marketable debt (kindly provided by Martin Ellison). Column 4 gives the face value of nonmarketable debt, computed by subtracting Column 3 from Column 2, except when the reported value of marketable debt exceeds the corresponding figure from the Bank of England database, in which case a figure of zero is given. Finally, Column 6 gives the sum of Columns 4 and 5 – the amount of nonmarketable debt plus the market value of marketable debt.
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- Information
- AusterityWhen Is It a Mistake and When Is It Necessary?, pp. 123 - 126Publisher: Agenda PublishingPrint publication year: 2020