Chudik, Alexander; Pesaran, M. Hashem; Mohaddes, Kamiar - 2019
the interactions between public debt and real output growth in a multicountry setting, and the results are compared to … about one third of the long-horizon forecast error variance of output growth, and about one fifth of the long run variance … due to a fiscal policy shock, as compared to when the rise in output is due to a positive technology shock. The cross …