Reinhart, Carmen M.; Reinhart, Vincent R.; Rogoff, … - In: Journal of Economic Perspectives 26 (2012) 3, pp. 69-86
We identify the major public debt overhang episodes in the advanced economies since the early 1800s, characterized by public debt to GDP levels exceeding 90 percent for at least five years. Consistent with Reinhart and Rogoff (2010) and most of the more recent research, we find that public debt...