Should fiscal consolidations be front-loaded or proceed at a more steady pace, and how does this affect growth? We make … an attempt to address this question using a three-step methodology. First, we modify a standard regression of growth on …

median real GDP growth falls abruptly. Our work is the first to formally test for threshold effects in the relationship … between public debt and median real GDP growth. The null hypothesis of no threshold effect is rejected at the 5 percent … threshold for economic growth may exist around a relatively small debt-to-GDP ratio of 30 percent. Empirical results are more …

turn looks for engines of sustained growth. We use a micro-founded macroeconomic model calibrated to Greece. Our …

This paper examines the effects of public debt on the growth rate, investment and domestic credit provided to private …) economies for growth and invest-ment (credit) regressions. Our results suggest that public debt does not have a significant … impact on the economic growth rate. Despite a strong negative effect of public debt on the total investment, our results do …

We investigate the relationship between unemployment and growth in China. We find considerable differences in the …

the euro crisis. It presents new econometric estimates on the link between cumulative GDP growth and fiscal austerity …

-run effect of debt on the production efficiency and, thus, output growth. The results show that, in the short run, as debt …