CFS Lecture Event
Escaping the debt addiction : monetary and macro-prudential policy in the post crisis world
|Speaker:||Adair Lord Turner of Ecchinswell, Senior Fellow|
|Time:||17.30 - 19.00|
|Venue:||Festsaal, Casino, Goethe Universität Frankfurt|
The financial crisis was caused by excessive private credit creation in many advanced economies; and recovery has been weakened by attempted deleveraging as companies and households seek to escape from the debt overhang.
But before the crisis additional credit seemed essential to spur growth: and current inflation rates remained low, providing no warning of impending disaster.
Adair Turner will explore the reasons why economies became so debt dependent, and argue that radical new policy approaches are required to guard against a return to excessive private credit creation and to ensure escape from post crisis deflationary dangers.