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This Time They Are Different
Mr.Markus EberhardtAndrea Presbitero
其他書名
Heterogeneity and Nonlinearity in the Relationship Between Debt and Growth
出版International Monetary Fund, 2013-12-17
主題Business & Economics / Public FinanceBusiness & Economics / Investments & Securities / StocksBusiness & Economics / Economics / Macroeconomics
ISBN14843097159781484309711
URLhttp://books.google.com.hk/books?id=MSKgAgAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋We study the long-run relationship between public debt and growth in a large panel of countries. Our analysis takes particular note of theoretical arguments and data considerations in modeling the debt-growth relationship as heterogeneous across countries. We investigate the issue of nonlinearities (debt thresholds) in both the cross-country and within-country dimensions, employing novel methods and diagnostics from the time-series literature adapted for use in the panel. We find some support for a nonlinear relationship between debt and long-run growth across countries, but no evidence for common debt thresholds within countries over time.