Financial bubbles and sustainability of public debt: The case of Spain
Editor
Universidad de Alcalá. Instituto Universitario de Análisis Económico y Social
Fecha de publicación
2022-02Cita bibliográfica
Documentos de trabajo. IAES-Instituto Universitario de Análisis Económico y Social, Universidad de Alcalá, N. 02, 2022. ISSN 2172-7856
Palabras clave
Fiscal sustainability
Explosiveness
Recursive unit root test
Spain
COVID-19
Public debt
Descripción
31 p.
Tipo de documento
info:eu-repo/semantics/workingPaper
Versión
info:eu-repo/semantics/publishedVersion
Derechos
Attribution-NonCommercial-NoDerivatives 4.0 Internacional
Derechos de acceso
info:eu-repo/semantics/openAccess
Resumen
In this paper the dynamics of the Spanish public debt-GDP ratio is analysed during the period 1850-2020. We use a recent procedure to test for recurrent explosive behaviour (Phillips, Wu and Yu, 2011, and Phillips, Shi and Yu, 2015a, 2015b) in order to identify episodes of explosive public debt dynamics and also the episodes of Öscal adjustments over this long period.
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financial_esteve_IAESDT_2022_N ... | 530.2Kb |
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financial_esteve_IAESDT_2022_N ... | 530.2Kb |
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