Baum, Anja; Checherita-Westphal, Cristina; Rother, Philipp - European Central Bank - 2012
methodology by Hansen (1999) to a dynamic setting in order to analyse the nonlinear impact of public debt on GDP growth. Second … statistically significant, but decreases to around zero and loses significance beyond public debt-to-GDP ratios of around 67%. This …-term interest rate is subject to increased pressure when the public debt-to-GDP ratio is above 70%, broadly supporting the above …