Arbeitspapier
Does euro area membership affect the relation between GDP growth and public debt?
We analyse the relationship between the debt to GDP ratio and real per capita GDP growth for the euro area members by distinguishing between periods of sustainable and non-sustainable debt. Thresholds are theory-based and depend on the macroeconomic framework. If the interest rate exceeds nominal output growth, primary budget surpluses are required to achieve a sustainable debt ratio. The negative impact of the debt to GDP ratio is particularly strong for non sustainable ratios and especially relevant for the euro area. This suggests that the participation in monetary union might entail an additional risk for its members.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper ; No. 327
- Klassifikation
-
Wirtschaft
Economic Growth of Open Economies
Macroeconomic Analyses of Economic Development
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
- Thema
-
Euro area debt crisis
debt sustainability
Öffentliche Schulden
Nachhaltigkeit
Sozialprodukt
Wirtschaftswachstum
Europäische Wirtschafts- und Währungsunion
Eurozone
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Dreger, Christian
Reimers, Hans-Eggert
- Ereignis
-
Veröffentlichung
- (wer)
-
European University Viadrina, Department of Business Administration and Economics
- (wo)
-
Frankfurt (Oder)
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Dreger, Christian
- Reimers, Hans-Eggert
- European University Viadrina, Department of Business Administration and Economics
Entstanden
- 2012
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