Munich Personal RePEc Archive

Public Safe Assets Determination

Ly-Dai, Hung (2018): Public Safe Assets Determination.

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Abstract

We characterize the safety of public debt by one cross-section sample of 160 economies. For demand analysis, the public debt is safer for larger financial market size, higher financial development level, lower inflation rate and greater political stability. For sup- ply analysis, by a huger debt stock, the safety improves in economies with high income per capita but deteriorates in economies with low income per capita. The results are robust for Instrument-Variable regressions.

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