low scores, the debt/GDP ratios declined before the crisis. This was largely the consequence of a very favourable …

-state of government debt should follow a random walk.  This is unlikely to be the case in OLG economies, where the equilibrium … interest rate may differ from the policy-maker's rate of time preference such that it may be optimal to reduce debt today to …) in these economies is likely to be sub-optimally low, and reducing government debt will 'crowd in' additional capital …

low scores, the debt/GDP ratios declined before the crisis. This was largely the consequence of a very favourable …

The recent sovereign debt and subprime crises affected the world economy and highlighted the role and importance of …

European economies and it integrates a rich menu of fiscal variables as well as a target on the debt to output ratio. The main … channels that explain this result, we find that fiscal rules designed to ensure debt consolidation induce cyclical movements in …