TY  - JOUR
U1  - Zeitschriftenartikel, wissenschaftlich - begutachtet (reviewed)
A1  - Herzog, Bodo
A1  - Dausch, Larissa
T1  - Public debt sustainability in Europe and leading countries
JF  - Journal of empirical economics
N2  - We investigate public debt sustainability in Europe and leading industrialised countries. The recent debate about the debt ceiling in the US and the sovereign debt crisis in Europe demonstrate the urgency of the topic. We measure debt sustainability of public finance with a standard and alternative methodology and compare both results. We use panel data of 205 OECD countries from 1970 to 2014. The paper finds unsustainable public debt levels for almost all countries in the past decades.  Furthermore, given the low economic growth and demographic challenge ahead, debt levels may upsurge even more. There is a huge looming ‘debt meltdown’ on the horizon if countries do not change public policy soon.
KW  - public debt sustainability
KW  - European debt crisis
KW  - measurement of sustainability
Y1  - 2015
U6  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-4971
UN  - https://nbn-resolving.org/urn:nbn:de:bsz:rt2-opus4-4971
UR  - http://www.rassweb.com/archive-details-vol-4-issue-4-jee/
SN  - 2310-3280
SS  - 2310-3280
VL  - 4
IS  - 4
SP  - 207
EP  - 215
S1  - 9
PB  - Research Academy of Social Sciences
CY  - Karachi
ER  -