Marattin, Luigi; Salotti, Simone - 2010
levels, as economic theory predicts. Particularly, the deterioration of some EMU countries' fiscal positions has been putting … at risk Eurozone' financial stability. In this paper, we estimate a Panel VAR (PVAR) model on the EMU area employing … results show that prior to the introduction of the Euro an increase in public debt led to positive and significant effect on …