Felipe Muller

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The personal sector will therefore move from the surplus of the past towards a deficit. It follows, almost by definition, that in order to equilibrate the economy, the public sector should move out of deficit towards greater surplus. But this will be extraordinarily difficult, particularly because of the pressure of the need to increase payments for medical care and pensions,
The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival
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