These statistics indicate that LnHDI reacts to its long-run equilibrium state by a 27.6% adjustment speed within a year, and LnCO2 adjusts with a speed of 7.5% per year towards the long-run equilibrium level in
Where BS is the primary budget surplus to GDP ratio and μi is the error term. If β1turns out to be positive and statistically significant, this provides reliable information about the sustainability of public debt. The theoretical rationale behind this is that the sustainability of...
In a country this wealthy it is scandalous that we are condemning an entire generation to poverty in their retirements simply because we can’t muster the political will to make businesses and the ultra-rich pay their fair share of our taxes, or to reduce the unaffordable waste of the worl...
doi=10.1257/cier.W0.2.573 Growth in a Time of Debt By Carmen M. Reinhart and Kenneth S. Rogoff* In this paper, we exploit a new multi-country especially against the backdrop of graying pop historical dataset on public (government) debt to ulations and rising social insurance costs? Are...
then many more of these goods could be manufactured and sold. Businesses could also borrow to set up new manufacturing facilities. Little by little, what I have described as the Modern View of debt took over, and the ratio of non-governmental debt to GDP soared. GDP measures the cost of ...