unemployment, with its detrimental effect on human capital. In addition, paying off past debt will be painful to both the public … and private sectors, in particular in the context of a low inflation environment. The policy response in the Euro Area has …

If the primary purpose of raising debt levels was to finance growth opportunities, then higher debt levels would signal … accounts for less than half of the variation in debt levels, with the leverage channel accounting for the remainder. The link … between greater debt growth and higher leverage is particularly pronounced during accommodative monetary policy regimes …

We show that to account for the cross-sectional divergence in debt-to-income ratios in US data a DSGE model must assume …

The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …

The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into … account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the …

The recent financial crises pointed out the central role of public and private debt in modern economies. However, even … if debt is a recurring topic in discussions about the current economic situation, economic modeling does not take into … account debt as one of the crucial determinants of economic dynamics. The authors' contribution, in this paper, is to …

. In particular, the article reveals that debt financed government spending is a viable stabilization tool and can improve …