This paper provides new empirical evidence of the impact of an unanticipated change in public debt on real GDP. Using public debt forecast errors, we identify exogenous changes in public debt to assess the impact of a change in the debt to GDP ratio on real GDP. By analyzing data on gross public...

The output gap, while inherently unobservable, plays a pivotal role in informing policymakers due to its significant implications for forecasting inflation rates and understanding the mechanisms of monetary policy transmission. Traditional filters frequently employed in estimating the output gap...

Global climate issues are a serious impediment to green and sustainable urban development. The purpose of this study is to explore the influence of structural change on urbanization in terms of population, energy, industry, and economics while accounting for per capita carbon emissions. In this...

Emerging countries, also known as developing markets are important drivers for domestic growth and global exchange. Emerging countries are investing more in productive capacities. This means that they strive to move away from their traditional economies like agriculture and export of raw...

Small and medium-sized enterprises (SMEs) play an important role in the development of the economy and contribute significantly to ensure sustainability, economic growth and wealth of nation. A strong and well-developed SME sector contributes significantly to innovation, exports and the creation...

From 1980 through 2020, the rate of population growth declined in both China and India, but the decline was far more pronounced in China. During the same period, per capita income increased substantially in both China and India, but the increase was far more pronounced in China. The fact that...