Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/22493

TitleStructural breaks and nonlinearity in US and UK public debt
Author(s)Jawadi, Fredj
Sousa, Ricardo M.
KeywordsPublic debt
Structural breaks
Nonlinearity
Issue date2012
Abstract(s)This paper investigates the short-term dynamics for public debts in the US and the UK over more than four decades. We check for structural changes in the data and assess nonlinearity and switching-regime hypotheses using several linearity tests. Our findings point to multiple structural breaks due to economic downturns, oil shocks, and financial and political instability. We also identify different regimes for which the adjustment is asymmetric and nonlinear, in particular, since 2003 and around the Great Recession.
TypeWorking paper
URIhttp://hdl.handle.net/1822/22493
Publisher versionhttp://www.eeg.uminho.pt/economia/nipe
Peer-Reviewedno
AccessOpen access
Appears in Collections:NIPE - Documentos de Trabalho

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