Burriel, Pablo; Checherita-Westphal, Cristina; … - 2020
large public debt build-up following the 2009 global financial and economic crisis acted as a shock absorber for output …The paper reviews the economic risks associated with regimes of high public debt through DSGE model simulations. The …, while in the recent and more severe COVID19-crisis, an increase in public debt is even more justified given the nature of …