01940cas a2200277 a 4500 AALejournalIMF015036 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498333405 1018-5941 BD-DhAAL BD-DhAAL Chen, Sally. Private Sector Deleveraging and Growth Following Busts / Sally Chen, Minsuk Kim, Marijn Otte, Kevin Wiseman. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Balance sheet recessions have been a drag on activity after the Global Financial Crisis, underscoring the important role of balance sheet adjustment for resuming sustained growth. In this paper we examine private sector deleveraging experiences across 36 advanced and emerging economies countries since 1960. We consider the common features and divergent experiences of deleveraging episodes across countries, and analyze empirically the impact of different aspects of deleveraging during the bust phase of leverage cycles on subsequent medium-term growth. The results suggest that larger and quicker unwinding of non-financial sector debt overhangs is associated with sizable medium-term output gains, and that policies should focus on facilitating up-front balance sheet adjustment. Mode of access: Internet Kim, Minsuk. Otte, Marijn. Wiseman, Kevin. IMF Working Papers; Working Paper ; No. 2015/035 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/035/001.2015.issue-035-en.xml IMF e-Library