Tom Hellebrandt was research fellow at the Peterson Institute for International Economics from 2013 to 2015. Before that he was an economist at the Bank of England from 2007 to 2013. He is the author of "Income Inequality Developments in the Great Recession" (PIIE Policy Brief, January 2014). Paolo Mauro is assistant director in the African Department of the International Monetary Fund (IMF). He was senior fellow at the Peterson Institute for International Economics and visiting professor at the Johns Hopkins University Carey Business School in 2014-16. Before that he held various managerial positions in the IMF's research and fiscal affairs departments. His articles have been published in journals including the Quarterly Journal of Economics and have been highly cited in academia and leading media outlets such as the Economist and Wall Street Journal. His previous books are Emerging Markets and Financial Globalizations (Oxford University Press, 2007) and Chipping Away at Public Debt (Wiley, 2011).