The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two … the time series approach (Trehan and Walsh, 1988). In this paper we analyze the sustainability of public debt in Italy … containing several statistical novelties: new time series estimates of public debt and GDP (respectively Banca d'Italia, 2008 and …

surpluses in response to the accumulation of debt. The empirical results show the occurrence of a significantly positive … reaction of primary surpluses to debt when the debt-GDP ratio exceeded the trigger value of 110 percent. The after …

We examine the historical dynamics of government debt in post-unification Italy, from 1861 to 2009. Unit root tests for … the debt-GDP ratio are unable to reject either the non-stationarity or the stationarity null hypothesis. Controlling debt … dynamics for fiscal feedback policies of the Barro-Bohn style, however, the debt-GDP ratio is found to be mean-reverting. Mean …

surpluses in response to the accumulation of debt. The empirical results show the occurrence of a significantly positive … reaction of primary surpluses to debt when the debt–GDP ratio exceeded the trigger value of 110 percent. The after …

data. We evaluate fiscal sustainability by investigating whether the expected path of the debt-to-GDP ratio stabilizes or … increases without bound. The debt-to-GDP ratio depends crucially on the projected growth rate and the fiscal policy rule. If the … government does not react to the current fiscal crisis, the debt-to-GDP ratio will increase without bound, and then the fiscal …

government should establish a more systematic connection between fiscal policy guidelines and the evolution of public debt. - L …

The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two … the time series approach (Trehan and Walsh, 1988). In this paper we analyze the sustainability of public debt in Italy … containing several statistical novelties: new time series estimates of public debt and GDP (respectively Banca d’Italia, 2008 and …