Dreger, Christian; Reimers, Hans-Eggert - In: Journal of Macroeconomics 38 (2013) PB, pp. 481-486
We analyse the relationship between the debt-to-GDP ratio and real per capita GDP growth for euro area members and a broader set of industrial countries by distinguishing periods of sustainable and non-sustainable debt. Thresholds for debt are theory-driven and depend on macroeconomic...