Andrián, Leandro; Hirs-Garzón, Jorge; Urrea, Iván; … - 2023
differential effects with respect to the economic cycle. Using a dynamic panel, which enables us to control for endogeneity … significant effect on the reduction of public debt during the positive side of the economic cycle if adequate institutional … negative part of the cycle. These results have relevant policy implications, as they underscore the importance of (1 …