using a variation of controls, sub-samples and specifications. - Fiscal policy ; financial crisis ; growth ; OECD ; EU …

growth and output trend. Our main finding is that currency collapses are associated with a permanent output loss relative to … output. More generally, we also find that the likelihood of a positive growth rate in the year of the collapse is over two … times more likely than a contraction, and that positive growth rates in the years that follow such episodes are the norm …

growth and output trend. Our main finding is that currency collapses are associated with a permanent output loss relative to … output. More generally, we also find that the likelihood of a positive growth rate in the year of the collapse is over two … times more likely than a contraction, and that positive growth rates in the years that follow such episodes are the norm …

normative choice for external indebtedness and (ii) the decision to exclude the foreign direct investment subcomponent from the …

, the location of the government creditor produces these differential responses through the extent that private investment …

the resources used to acquire public debt reduce domestic consumption and investment. These crowding-out effects are …