User:Nick Gardner/Public debt/Tutorials

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Implications of the debt trap identity

According to the debt trap identity, the annual increase in public dept as a percentage of GDP is given by:

Δd = f + d(r - g)

where f is the primary budget deficit as a percentage of GDP, and d is public debt as a percentage of GDP.

(for proof of the identity, see the addendum subpage)

Public Debt

( % of GDP )

	Japan	Italy	France	Germany	United States	United Kingdom	China	Australia
2007	195	107	65	65	62	44	20	9
2014 est	222	118	79	77	100	76	19	4

(Source: IMF [1])