This paper discusses the type of trajectory a country's public debt path follows. In particular, a Markov switching ADF … model is used to assess the sustainability of public debt by testing whether a government's present value borrowing … methodology. The number of lags and states are in principle unrestricted and all of the parameters can be switching. Debt …

government debt level and the general investors' risk aversion had a significant impact on interest differentials. In the …

After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others … groups of countries, but generally little feedback from the debt stock to the primary balance. The countries that eventually … from the debt stock, and these reactions are particularly pronounced for the countries with severe fiscal problems …

income inequality during periods of private debt overhang. In contrast, there are no discernible distributional effects when … private debt is low. This result is robust to alternative identifications of fiscal consolidations, to different ways of … defining periods of private debt overhang, and to controlling for the state of the business cycle. We explore different …

After the global financial crisis, some governments in the EU experienced serious debt financing problems, while others … groups of countries, but generally little feedback from the debt stock to the primary balance. The countries that eventually … from the debt stock, and these reactions are particularly pronounced for the countries with severe fiscal problems …