Debt-Deflation and Corporate Finance
Over the past few years, the rapid growth in the level of public and private domestic debt, and growth in the level of foreign debt owed to American banks, has been a major source of concern for our legislators and financial regulators. This concern centers on the possible negative effects that debt buildup might have on the economy as a whole and on industry in particular.
The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit clevelandfed.org for updates.
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