Private and public debt convergence: a fractional cointegration approach
Fecha
2024Citación
Malmierca-Ordoqui, M., Gil-Alana, L.A. & Bermejo, L. Private and public debt convergence: a fractional cointegration approach. Empirica 51, 161–183 (2024). https://doi.org/10.1007/s10663-023-09594-9
Resumen
The devastating effects of the financial and economic recessions within the last two decades have led researchers to question whether there is a connection between the public and private financial sectors that contributes to the rapid propagation of crisis. We analyze the fractional cointegrating structure between the private and public debt-to-GDP ratios for 17 European countries to examine the relevance of this relationship as an amplification channel of shocks. On the one hand, the univariate ...
Departamentos
Tipo de documento
journal article