the economy. We show that if (i) a significant share of the debt is denominated in foreign currency-creating a currency … tilts the debt profile towards short term debt, thereby increasing the volatility of output. Taking the model implications …

, France, Germany, Japan, Netherlands, Sweden, and UK); improvements of the primary balance after past worsening in debt ratios … for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …

This paper investigates the relationship between government debt and labour taxation for a panel of 18 EU countries … positive response of labour taxation to changes in the general government debt and interest expenditure-to-GDP ratios. The …

The sovereign debt crisis in the euro area is a symptom of policy failures and deficiencies in – among other things …

unsustainable public debt dynamics and enormous contingent liabilities across sectors and countries coinciding with strong, non …

followed neutral policies based on expenditure rules since the start of EMU. It also calculates the implications for debt … higher expenditure and debt paths compared to a counterfactual neutral expenditure stance. Simple and prudent rules …

the optimal degree of responsiveness of net taxes to individual incomes, an optimal measure of long-run public debt, or … government, the results unambiguously point to the desire for lower debt levels than those currently prevailing in order to … debt reduction. JEL Classification: H31, H63, E63 …

same shock leads to a cumulative increase of almost 150 basis points after 10 years. The effect of debt on interest rates … is non-linear: only for countries with above-average levels of debt does an increase in debt affect the interest rate …