show that growth is higher if the debt to GDP ratio is below 60 % compared to values above it. Moreover, a comparison with …

ratios, between, i) the debt and primary surplus, and ii) government expenditure and revenues. Both models show consistent … high-income countries. This also indicates that the fiscal policy can be sustainable (non-sustainable) even for the debt …

Historically high levels of private and public debt coupled with already very low short-term interest rates appear to … considered is monetary financing by central banks to boost demand and/or relieve debt burdens. We find little empirical evidence …