economic crisis that began in mid-2007 which are contained in the main publications of the IMF, the OECD and the BIS and …

Using a large panel of OECD countries this paper studies the link between debt and macroeconomic stability by comparing … between debt and economic growth has been extensively studied in the literature, only little attention has been paid to the … impact of debt on volatility and higher moments of output growth distributions. This paper fills in this gap. Debt …

understand the international risk distribution, the overall position is broken down between equity and debt components. The …

net external debt levels. In Spain and Portugal, cost competitiveness relative to the rest of the euro area would need to …

understand the international risk distribution, the overall position is broken down between equity and debt components. The …

Debt levels have surged since the mid-1990s and have reached historic highs across the OECD. High debt levels can … create vulnerabilities, which amplify and transmit macroeconomic and asset price shocks. Furthermore, high debt levels hinder … shocks. The empirical evidence suggests that when private sector debt levels, particularly for households, rise above trend …

level of government debt, favourable outlook for output growth, and long-term fiscal costs of ageing which are estimated to … needed pension reform, would have substantial longer-term costs in terms of higher taxes and additional debt service costs …, including an increase in the risk premium paid on government debt. In addition, this would heavily skew the tax burden towards …