Public debt dynamics: the interaction with national income and fiscal policy
Abstract The 2008 financial crisis Bosch Serie 4 DWK095G60B 90 cm Angled Chimney Cooker Hood - Black - C Rated triggered the debt crisis in Europe.High debt-to-GDP ratios made it impossible for some countries to apply countercyclical policy in order to overcome the recession.As a result, highly indebted countries were forced to apply austerity meas