Abstract: Die Staatsschulden der Industriestaaten haben in den letzten Jahren besorgniserregende Höhen erreicht und nähren in Verbindung mit den Risiken des Finanzsektors die Sorge vor steigender finanzieller und ökonomischer Instabilität. Der Autor analysiert die Hauptinterdependenzen...

This paper analyzes the dynamics of the Spanish public debt-GDP ratio during the period 1850-2021. We use recent procedures to test for explosive bubbles under the presence of time-varying volatility (Harvey, Leybourne, Sollis and Taylor, 2016; Harvey, Leybourne and Zu, 2019, 2020; Kurozumi, Skorobotov...

This paper explores the relationship between equity prices and the current account for 17 industrialized countries in the period 1980 - 2007. Based on a panel vector autoregression, I compare the effects of equity price shocks to those originating from monetary policy and exchange rates. While...