OECD Economics Department Working Papers

The 90% Public Debt Threshold: The Rise and Fall of a Stylised Fact

DOI:https://doi.org/10.1787/5k452kln1s6l-en

This paper puts the original Reinhart-Rogoff dataset, made public by Herndon et al. (2013), to a formal econometric test to pin down debt thresholds endogenously. We show that the nonlinear relation from debt to growth is not very robust. Taken with a pinch of salt, our results suggest,...



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