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This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point—beyond which the government debt-to-GDP ratio has a...
Persistent link: https://www.econbiz.de/10011605283
This paper uses panel data for 116 countries over the period 1995-2016 to investigate the heterogeneity of the debt …
Persistent link: https://www.econbiz.de/10012025070
This paper uses a modi.ed Harrodian model to understand both the long period of rapid Japanese growth and the recent period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government intervention, we argue, took the Japanese economy...
Persistent link: https://www.econbiz.de/10010287845
During the pandemic, African banks rebalanced their portfolio towards sovereign assets, and crowding out of credit to private sector intensified. Policy support, however, averted a credit crunch. The increase in public debt across Africa due to the COVID-19 crisis intensified crowding out of...
Persistent link: https://www.econbiz.de/10014506409
. The analysis proposed is based on a panel data approach and the Arellano-Bond estimator for dynamic panels. We obtain …, and investment in infrastructures. We employ a generalised least squares AR(1) panel data model. The results provide …
Persistent link: https://www.econbiz.de/10011324906
employs a panel data technique is used. This estimator is suited for integrated annual macroeconomic panel data sets to … explains the concept of panel unit roots and panel cointegration and introduces the underlying empirical approach. Next …
Persistent link: https://www.econbiz.de/10010297400
sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel …
Persistent link: https://www.econbiz.de/10011605041
countries considered can be classified. The dynamic panel econometric analysis for the period 1989-2006 reveals that balanced …
Persistent link: https://www.econbiz.de/10010281885
We use a panel of 16 OECD countries over several decades to investigate the effects of government debts and deficits on …
Persistent link: https://www.econbiz.de/10011604457
The debate on the sustainability of public finances is closely related to the analysis of the financial and macroeconomic consequences of government debt accumulation. Focusing on the USA, Germany and Italy over the 1983-2003 period, the central issue addressed in this paper is how the...
Persistent link: https://www.econbiz.de/10011604702