Afonso, António; Coelho, José Carlos - 2022
reacts positively to the lagged public debt ratio and past primary government balances contribute to the reduction of the … public debt ratio, indicating a Ricardian fiscal regime. Furthermore, in a panel framework: (ii) the response of revenues to … government expenditures is higher from 2010 onwards, and, for higher average public debt ratios, the response is lower, while …