Debt

BIS Papers No 80
January 2015

The 13th BIS Annual Conference took place in Lucerne, Switzerland on 27 June 2014. The event brought together a distinguished group of central bank governors, leading academics and former public officials to exchange views. The focus this year was on debt. The papers presented at the conference and the discussants' comments are released as BIS Working Papers 479 to 482.

BIS Papers No 80 contains the opening address by Jaime Caruana (General Manager, BIS) on "Debt: the view from Basel" and a keynote address by Benjamin Friedman (Harvard University) entitled "A predictable pathology". Panel remarks by Stephen King (HSBC) and Masaaki Shirakawa (Aoyama Gakuin University).


Understanding the role of debt in the financial system, BIS Working Papers No 479
by Bengt Holmstrom
Comments by Philipp Hildebrand and Ernst-Ludwig von Thadden

Trilemmas and trade-offs: living with financial globalisation, BIS Working Papers No 480
by Maurice Obstfeld
Comments by Otmar Issing and Takatoshi Ito

Credit booms: implications for the public and the private sector, BIS Working Papers No 481
by Tano Santos
Comments by Andrés Velasco

Secular stagnation, debt overhang and other rationales for sluggish growth, six years on, BIS Working Papers No 482
by Stephanie Lo and Kenneth Rogoff