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The dynamics of French public debt: Paths for fiscal consolidations

Esposito, Piero and Paradiso, Antonio and Rao, B. Bhaskara (2011): The dynamics of French public debt: Paths for fiscal consolidations.

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Abstract

We analyze possible targets for the French debt-to-GDP ratio with a small model. The role of the US and German GDP growth, prices of raw materials, ECB monetary policy, and domestic policy is analyzed in the debt dynamics. We find that external conditions, together with policies to stimulate growth and to generate a government surplus, play a fundamental role in the French fiscal consolidation.

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