Government debt dynamics and the global financial crisis. Has anything changed in the EA12?
Authors
Luis Alberiko Gil-Alaña
Juan Carlos Cuestas
Karsten Staehr
Type
Article
Journal
Economics Letters Vol. 124
Pages
64-66
Date
01-07-2014
Abstract

This paper seeks to shed light on possible changes in the government debt dynamics for the first 12 euro area countries. Structural breaks are present around the global financial crisis for most countries, but not for Germany and France, the two core countries in the euro area. The properties of the government debt dynamics differ markedly across the countries receiving bailouts.