El presente trabajo analiza la influencia de los regímenes cambiarios sobre la performance fiscal, focalizándose en la diferencia entre regímenes fijos y flexibles. Para hacerlo se utiliza una muestra de 83 países para el período 1974-1998, una metodología de estimación GMM para modelos...

This paper analyzes the influence of exchange rate regimes on fiscal performance, focusing on the difference between fixed and flexible exchange rates. For these ends, a sample of 83 countries for the 1974-1998 period, the GMM methodology for dynamic proposal panel models proposed by Arellano...

This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness. Our contribution is both theoretical and empirical. On the theoretical side, we develop tests for threshold effects in the...

This paper studies the long-run impact of public debt expansion on economic growth and investigates whether the debt-growth relation varies with the level of indebtedness. Our contribution is both theoretical and empirical. On the theoretical side, we develop tests for threshold effects in the...

In the present paper it is pointed out that government debt is an obstacle to economic growth. To my belief, the remedy to this problem is to encourage consumption and not to impose taxes onto the consumers. Because, any decrease in their wages and salaries for temporary budgetary purposes, will...

In the present paper an empirical analysis with panel data will point out that Government Debt as a percentage of GDP either reduces or lets unaffected Banking solvency. This “not clear” finding is attributed to the assumptions of the method of estimation. In fact, present paper raises also...

This study aims to explore the relationship between public debt and trade openness on economic growth in the context of the Indonesian economy. The symmetric model (Autoregressive Distributed Lag/ARDL) and the asymmetric model (Nonlinear ARDL) are employed to estimate the association among the...

Using the government's intertemporal budget constraint, we quantify the contribution of returns paid on the U.S. government's debt portfolio to the evolution of the debt-to-GDP ratio. We show that announcements of unconventional monetary policy measures by the Federal Reserve between 2008.IV and...

This paper focuses on an econometric investigation of the macroeconomic and political factors that contributed to Greece's excessive debt accumulation and its failure to adequately address its fiscal imbalances, from the restoration of democracy in 1974 till the crisis of 2009. The econometric...

This paper investigates the major drivers of the public debt growth in 184 countries. Our analysis consists in a cross-country survey, which is conducted on the basis of the improved compilation of datasets on the central government debt for 2013. In order to differentiate between...