Alessandro, Piergallini; Michele, Postigliola - In: Rivista italiana degli economisti (2012) 3, pp. 417-440
We examine the historical dynamics of government debt in post-unification Italy, from 1861to 2009. Unit root tests for the debt-GDP ratio are unable to reject either the non-stationarity or the stationarity null hypothesis. Controlling debt dynamics for fiscal feedback policies of the Barro-Bohn...