This study presents empirical evidence about the determinants of long-term government bond yields for 19 economies of the European Monetary Union (EMU) over the period 1995-2018 within a multivariate panel framework. The fixed effects estimators reveal that the relationship between public debt...

This study presents empirical evidence about the determinants of long-term government bond yields for 19 economies of the European Monetary Union (EMU) over the period 1995-2018 within a multivariate panel framework. The fixed effects estimators reveal that the relationship between public debt...

By the end of 2009, a very cold breath of austerity was blowing from the European financial and banking system and thoroughly was touching every Member State’s economy, but only for some of them perspective of this severe situation is called bankruptcy frequently. By the spring of this year...

The paper deals with the relationship between public spending and growth as well as the dynamics of the ratio of public debt to GDP. The authors show that a composition of public spending that favors productive expenditures, that is, those with a direct positive effect on the economy's long-run...

A growing number of recent works support the idea of debt threshold level (turning point), above which debt starts reducing economic growth. However, estimated threshold varies sharply across studies and gives a little insight into what the optimal level of debt is. The point is that there is no...

While economic theory suggests a wide range of potential drivers of public debt, there is little consensus regarding the most relevant ones. This paper analyzes the determinants of the public debt in Africa. This is done by adopting a Bayesian Model Averaging (BMA) approach applied to data of 51...

While economic theory suggests a wide range of potential drivers of public debt, there is little consensus regarding the most relevant ones. This paper analyzes the determinants of the public debt in Africa. This is done by adopting a Bayesian Model Averaging (BMA) approach applied to data of 51...

A growing number of recent works support the idea of debt threshold level (turning point), above which debt starts reducing economic growth. However, estimated threshold varies sharply across studies and gives a little insight into what the optimal level of debt is. The point is that there is no...

This paper investigates the relationship between public debt and economic growth in the context of a panel kink regression with latent group structures. The proposed model allows us to explore the heterogeneous threshold effects of public debt on economic growth based on unknown group patterns....

The aim of our paper is to contribute to the debate on optimal fiscal rules in a monetary union: in terms of global budgetary deficit, of structural budgetary deficit, or of public debt. Indeed, these rules seem to be mixed in the framework of the European Economic and Monetary Union, with the...