Afonso, António; Coelho, José Carlos - 2022
reacts positively to the lagged public debt ratio and past primary government balances contribute to the reduction of the … government expenditures is higher from 2010 onwards, and, for higher average public debt ratios, the response is lower, while … (iii) the response of the primary government balance to the lagged public debt ratio is lower from 2010 onwards and is …