Thams, Andreas (contributor) - 2007
-switching techniques, we show that both countries underwent a change in policy behavior in the light of rising debt/output ratios at the … output gap, Gt is the expenditure/GDP ratio and Bt−1 stands for debt/GDP ratio in period
t − 1. We decided to use B in period … underwent a
change in policy behavior in the light of rising debt/output ratios at the end of the 1990s.
Interestingly, this …