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We assess public finances solvency for Euro Area countries using quarterly data between 1999Q1 and 2020Q4. Through a country-by-country analysis, the answer to the title question is true. For most countries, (i) the primary budget balance reacts positively to the lagged public debt ratio and...
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This paper is about fiscal consolidation measures (i.e. tax hikes and government spending cuts motivated by a desire to reduce the fiscal deficit and public debt) in euro area (EA) countries. The focus is on analysing the growth effects of fiscal adjustments as well as their implications for...
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An environment of low growth and low inflation in the euro area does not foster swift private sector deleveraging. Yet, reviving growth is critically dependent on how quickly excessive levels of debt can be reduced, particularly in sectors that remain unprofitable. This is essential to support a...
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