With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...

The European Union has set up a fund in order to compensate countries for damages resulting from Covid-19 that hit the economies in an asymmetric way. We argue that payments should be based only on relative damages, expressed as losses relative to GDP, and any distribution mechanism implying...

In this paper we empirically analyze the effect of the vaccinations against the SARS-CoV-2 virus on the Covid-19 pandemic for European countries from February 2021 to February 2022 with weekly data. We perform panel fixed effects estimations, GMM estimations and nonlinear penalized spline...

With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction function where the primary balance relative to GDP is assumed to be a function of the public debt to GDP ratio of the previous year and of other macroeconomic variables. In...

This paper presents an endogenous growth model with public capital and public debt. The government finances productive and unproductive public spending through income taxation and through public deficits. In addition, the primary surplus to GDP ratio is set such that it is a positive function of...