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initial lower debt-to-GDP ratio. Consolidations were larger when sustained over time and the initial deficit was high. Fiscal …
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The purpose of the present paper is to examine theoretically and empirically how the maturity structure of government debt is affected by changes in its main macroeconomic determining factors. We organize our investigation around a maturity-structure model for Greece in which the optimal...
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years, exceeding 80% of the GDP. Its debt and fiscal deficit were the highest among the Visegrád countries during the …
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