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Countries have increased significantly their public-sector borrowing since the Global Financial Crisis. In this context, we document several potential fiscal dominance effects during 2000-2017 under Inflation Targeting (IT), and non-IT regimes. Higher ratios of public debt-to-GDP are associated...
Persistent link: https://www.econbiz.de/10012479945
.94) down to the average level of the Euro minus the Euro-area peripheral countries (1.97), was associated with a larger crisis … stimulus in 2009-11 of 2.78 GDP percentage points. Joint estimation of fiscal stimuli and exchange rate depreciations indicates …
Persistent link: https://www.econbiz.de/10012461231