dc.contributor.author
Gómez-Puig, Marta
dc.contributor.author
Sosvilla Rivero, Simón
dc.date.issued
2015-09-16T07:27:26Z
dc.date.issued
2015-09-16T07:27:26Z
dc.date.issued
2015-09-16T07:27:26Z
dc.identifier
https://hdl.handle.net/2445/66900
dc.description.abstract
New evidence is presented on the possible existence of bi-directional causal relationships between public debt and economic growth in both central and peripheral countries of the European Economic and Monetary Union. We test for heterogeneity in the bi-directional Granger-causality across both time and space during the period between 1980 and 2013. The results suggest evidence of a “diabolic loop” between low economic growth and high public debt levels in Spain after 2009. For Belgium, Greece, Italy and the Netherlands debt has a negative effect over growth from an endogenously determined breakpoint and above a debt threshold ranging from 56% to 103% depending on the country.
dc.format
application/pdf
dc.format
application/pdf
dc.publisher
Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
dc.relation
Reproducció del document publicat a: http://www.ub.edu/irea/working_papers/2015/201512.pdf
dc.relation
IREA – Working Papers, 2015, IR15/12
dc.relation
[WP E-IR15/12]
dc.rights
cc-by-nc-nd, (c) Gómez-Puig et al., 2015
dc.rights
http://creativecommons.org/licenses/by-nc-nd/3.0/
dc.rights
info:eu-repo/semantics/openAccess
dc.source
Documents de treball (Institut de Recerca en Economia Aplicada Regional i Pública (IREA))
dc.subject
Creixement econòmic
dc.subject
Països de la Unió Europea
dc.subject
Economic growth
dc.subject
European Union countries
dc.title
On the bi-directional causal relationship between public debt and economic growth in EMU countries [WP]
dc.type
info:eu-repo/semantics/workingPaper
