In this paper we test the sustainability of US public debt for the period 1916–2012 by
analyzing how the primary surplus to gross domestic product (GDP) responds to changes in …

We show, in this study, that the US public debt–GDP ratio was explosive in nature during the
1791–2009 sample period. The huge increase in US debt during World War II is responsible …

Whether or not a government deficit is sustainable has important implications for policy. If the
debt of a nation is sustainable, then it implies that the government should have no incentive …

How do governments react to the accumulation of debt? Do they take corrective measures,
or do they let the debt grow? Whereas standard time series tests cannot reject a unit root in …

This paper provides new empirical evidence of the impact of an unanticipated change in
public debt on real GDP. Using public debt forecast errors, we identify exogenous changes …

The question of what is a sustainable public debt is paramount in the macroeconomic
analysis of fiscal policy. This question is usually formulated as asking whether the …

For a panel of 21 OECD heterogeneous countries from 1991 to 2015, we study
governments' reactions to the accumulation of debt and look at whether governments …

In this paper, we use the Bohn (1998) test inspired by Fincke and Greiner (Studies in
Nonlinear Dynamics & Econometrics, 15 (3), 1–21, 2011b) to study whether the primary …

This paper characterizes the time‐series properties of debt: GDP ratios in 10 EU countries
over 1982–2009 and measures the size and source of the permanent effects of shocks as …

This paper analyses the original Reinhart-Rogoff dataset, made public by Herndon et
al.(2013), on the basis of descriptive statistics and formal econometric testing. First, based …