Persistence in the Private Debt-to-GDP Ratio: Evidence from 43 OECD Countries

dc.contributor.author	Carporale, Guglielmo Maria
dc.contributor.author	Gil Alana, Luis A.
dc.contributor.author	Malmierca Ordoqui, María
dc.date.accessioned	2022-09-15T08:53:34Z
dc.date.available	2022-09-15T08:53:34Z
dc.date.issued	2021
dc.identifier.citation	Caporale, Guglielmo Maria and Gil-Alana, Luis A. and Malmierca, María, Persistence in the Private Debt-to-GDP Ratio: Evidence from 43 OECD Countries (2021). CESifo Working Paper No. 8889, Available at SSRN http://dx.doi.org/10.2139/ssrn.3788709	es
dc.identifier.issn	10.2139/ssrn.3788709
dc.identifier.uri	http://hdl.handle.net/20.500.12766/379
dc.description.abstract	This paper investigates the degree of persistence of the private debt-to-GDP ratio in 43 OECE countries by estimating the fractional integration parameter of each series. Almost all of them are found to be highly persistent, with orders of integration around or above 1. The only exception is Argentina, where the series appears to be mean-reverting. These results highlight the key importance of macroprudential policy as one of the pillars of macro policy.	es
dc.language.iso	eng	es
dc.publisher	SSRN	es
dc.rights	Attribution-NonCommercial-NoDerivatives 4.0 Internacional	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/4.0/	*
dc.title	Persistence in the Private Debt-to-GDP Ratio: Evidence from 43 OECD Countries	es
dc.type	preprint	es
dc.description.department	Empresa	es
dc.rights.accessRights	open access	es
dc.subject.area	Macroeconomía	es

Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 Internacional