Growth in the shadow of debt
This paper revisits the relationship between debt and growth from a vantage point that considers the totality of private and public debt. We exploit quarter-long timing lags inherent in the response of borrowing to innovations in output to identify the effects of debt on growth in a panel vector aut...
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| Format: | Article |
| Language: | English |
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Elsevier B.V.
2019
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| Online Access: | View Fulltext in Publisher |