Public Debt Dynamics : The Effects of Austerity, Inflation, and Growth Shocks /
We study how macroeconomic shocks affect U.S. public debt dynamics using a VAR with debt feedback. Following a fiscal austerity shock, the debt ratio initially declines and then returns to its pre-shock path. Yet, the effect is not statistically significant. In a weak economic environment, the likel...
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| Materialtyp: | Tidskrift |
| Språk: | English |
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Washington, D.C. :
International Monetary Fund,
2012.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2012/230 |
| Länkar: | Full text available on IMF |