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The study of the link between debt and growth has been full of debates, both in theory and empirics. However, there is a growing consensus that the relationship is sensitive to the level of debt. Our paper tries to address the question of non linearity in the long term relationship between...
Persistent link: https://www.econbiz.de/10015241586
carry out, in a systematic and harmonised way, public debt sustainability analysis (DSA) for EU Member States. Analysing … recent and prospective public debt developments and risks to debt sustainability is crucial for EA countries and the EU as a … regular basis (twice a year, following autumn and spring Commission forecasts) an internal "Debt Sustainability Monitor …
Persistent link: https://www.econbiz.de/10015246581
period for sustainability to be restored. It would also require that adequate policy measures are taken to ensure that growth …
Persistent link: https://www.econbiz.de/10015246951
This paper highlights the prospect of a Covid-19 led upsurge in the government debt-GDP ratio of 19 countries in the G-20 group. Many of these countries have Fiscal Responsibility Legislations (FRLs) where government debt-GDP ratios have been tar-geted. A key policy implication of our findings...
Persistent link: https://www.econbiz.de/10015246971
relative to GDP. However, we argue that before this is done, individual countries may do well to reassess their sustainability … norms which may be higher than their current levels. Even though, some recent literature suggests that the sustainability …
Persistent link: https://www.econbiz.de/10015250243
The study of the link between debt and growth has been full of debates, both in theory and empirics. However, there is a growing consensus that the relationship is sensitive to the level of debt. Our paper tries to address the question of non linearity in the long term relationship between...
Persistent link: https://www.econbiz.de/10015254625
This paper analyses possible targets for the Italian debt-to-GDP ratio with a small macroeconomic model. The role of international macroeconomic variables such as the US GDP growth, prices of raw materials, EUR/USD exchange rate, and ECB monetary policy stance and domestic policy instruments is...
Persistent link: https://www.econbiz.de/10015226754
This paper analyses possible patterns for the Spain debt-to-GDP ratio with a small macroeconomic model. The role of international macroeconomic variables (such as the US and French GDP growth rates, prices of raw materials, ECB monetary policy stance) and domestic policy instruments is analyzed...
Persistent link: https://www.econbiz.de/10015227948
We analyze possible targets for the French debt-to-GDP ratio with a small model. The role of the US and German GDP growth, prices of raw materials, ECB monetary policy, and domestic policy is analyzed in the debt dynamics. We find that external conditions, together with policies to stimulate...
Persistent link: https://www.econbiz.de/10015227949
This paper utilizes a small-scale econometric model to study the dynamics of the Irish debt-to-GDP ratio. The role of world GDP growth, domestic GDP growth, real effective exchange rate, interest rate and primary balance is analyzed in the debt dynamics. We find that the Irish economy will...
Persistent link: https://www.econbiz.de/10015229680