Economics has been under fire since the recent crisis for enshrining abstract models that offer little connection to the real world. In “Growth in a Time of Debt,” our data-intensive approach aims at providing stylized facts, well beyond selective anecdotal evidence, on the contemporaneous link between debt, growth, and inflation at a time in which…
Our research aims to analyze the possible existence of Granger-causal relationships in the behavior of public debt issued by peripheral member countries of the European Economic and Monetary Union (EMU), with special emphasis on the recent episodes of crisis triggered in the eurozone sovereign debt markets since 2009. With this goal in mind, we make…
A tax-smoothing objective is used to assess the optimal composition of public debt with respect to maturity and contingencies. Optimal management of index… by Debt Free on Scribd
The financial crisis of 2008/2009 has left European economies witha sizeable public debt stock bringing back the question what factorshelp to reduce these fiscal imbalances. Using data for the period 1985-2009 this paper identifies factors determining major public debt reduc-tions. On average, the total debt reduction per country amounted toalmost 37 percentage points of GDP.…
