A Strategy for Efficient Debt Reduction

Sachs, Jeffrey D.

This paper focuses on two central themes. First, I will discuss the profound shortcomings of so-called "voluntary debt reduction" schemes, as now supported by the commercial banks. Second, I will outline the case for an IDF, and try to clear away much of the underbrush of misunderstanding that has slowed the adoption of the proposal.


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Journal of Economic Perspectives

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Earth Institute
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September 4, 2009