Jalles, João Tovar; Medas, Paulo A. - 2022
Debt levels, both private and public, were already at record highs before the Covid-19 pandemic, and surged further in … ongoing debate by examining what happens to economic growth after debt surges. We apply a local projection method to a new … dataset of debt surges in 190 countries between 1970 and 2020. Our results show that the relationship between debt surges and …