Reinhart, Carmen M. - 2012
public debt to GDP levels exceeding 90% for at least five years. Consistent with Reinhart and Rogoff (2010) and other more … episodes we identify, 20 lasted more than a decade. Five of the six shorter episodes were immediately after World Wars I and II …We identify the major public debt overhang episodes in the advanced economies since the early 1800s, characterized by …