Debt, growth and inflation in large European economies: a vector auto-regression analysis

被引：0

作者：

Taghavi, M ^{[1
]}

机构：

[1] Northumbria Univ, Econ Div, Newcastle Upon Tyne NE1 8ST, Tyne & Wear, England

来源：

CAPITALISM AND DEMOCRACY IN THE 21ST CENTURY | 2001年

关键词：

cointegration; convergence; debt ratio; deficit ratio; vector autoregression;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper attempts to empirically test the hypothesis that whether debt matters in the EU. This has been performed by examining the potential adverse effects of debt in large European economies on investment, inflation and growth. Using the hybrid cointegration and vector autoregressive models, the findings, based on the period 1970-97, suggest that debt causes significant adverse effects on investment, but its impact on growth is not clear-cut. Moreover, debt appears to be inflationary in most cases in the long run, though produces no clear short run pattern on inflation.

引用

页码：165 / 179

页数：15

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