Public debt dynamics: the interaction with national income and fiscal policy
Abstract The 2008 financial crisis triggered the debt crisis in Europe. High debt-to-GDP ratios made it impossible for some countries to apply countercyclical policy in order to overcome the recession. As a result, highly indebted countries were forced to apply austerity measures to avoid sovereign...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2021-06-01
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| Series: | Journal of Economic Structures |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s40008-021-00238-4 |