Burriel, Pablo; Checherita-Westphal, Cristina; … - 2020
The paper reviews the economic risks associated with regimes of high public debt through DSGE model simulations. The … large public debt build-up following the 2009 global financial and economic crisis acted as a shock absorber for output …, while in the recent and more severe COVID19-crisis, an increase in public debt is even more justified given the nature of …