Economists Christian R. Proaño, Christian Schoder and Willi Semmler published their working paper, Financial Stress, Sovereign Debt and Economic Activity in Industrialized Countries: Evidence from Dynamic Threshold Regressions in the Journal of International Money and Finance. Their paper studied the effects of sovereign debt on economic and growth and found that national debt did not impact economic growth as long as the financial markets were stable. Therefore, providing further evidence of the absurdity in austerity policies.
Posted on: Wed, 21 May 2014 17:00:00 +0000
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