Essec\Faculty\Model\Contribution {#2233
  #_index: "academ_contributions"
  #_id: "2724"
  #_source: array:26 [
    "id" => "2724"
    "slug" => "the-spending-multiplier-in-a-time-of-massive-public-debt-the-euro-area-case"
    "yearMonth" => "2013-03"
    "year" => "2013"
    "title" => "The Spending Multiplier in a Time of Massive Public Debt: The Euro-Area Case"
    "description" => "VRANCEANU, R. et BESANCENOT, D. (2013). The Spending Multiplier in a Time of Massive Public Debt: The Euro-Area Case. <i>Applied Economics Letters</i>, 20(8), pp. 758-762."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "VRANCEANU Radu"
        "bid" => "B00000524"
        "slug" => "vranceanu-radu"
      ]
      1 => array:1 [
        "name" => "BESANCENOT D."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:4 [
      0 => "Dette publique"
      1 => "Éviction financière"
      2 => "Multiplicateur fiscal"
      3 => "Zone euro"
    ]
    "updatedAt" => "2023-01-28 01:00:28"
    "publicationUrl" => "https://halshs.archives-ouvertes.fr/hal-00728230/"
    "publicationInfo" => array:3 [
      "pages" => "758-762"
      "volume" => "20"
      "number" => "8"
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "L'article étudie l'efficacité d'une relance budgétaire dans les pays fortement endettés de la zone Euro, en insistant sur "l'effet d’éviction financière". Pour une dette publique supérieure à 150% du PIB, le multiplicateur fiscal deviendrait négatif."
      "en" => "This article argues that in Euro-area economies, where the European Central Bank (ECB) cannot bail out financially distressed governments, the spending multiplier is adversely affected by the amount of public debt. A regression model on a panel of 26 EU countries over the last 16 years shows that a 10 percentage point increase in the debt-to-GDP ratio is connected to a slowdown in annual growth rates of 0.28 percentage point. Furthermore, the effectiveness of fiscal spending is adversely affected by the amount of public debt; in particular, when the public debt exceeds 150% of GDP, the growth impact of the deficit might turn negative."
    ]
    "authors_fields" => array:2 [
      "fr" => "Economie"
      "en" => "Economics"
    ]
    "indexedAt" => "2024-12-21T15:21:45.000Z"
    "docTitle" => "The Spending Multiplier in a Time of Massive Public Debt: The Euro-Area Case"
    "docSurtitle" => "Articles"
    "authorNames" => "<a href="/cv/vranceanu-radu">VRANCEANU Radu</a>, BESANCENOT D."
    "docDescription" => "<span class="document-property-authors">VRANCEANU Radu, BESANCENOT D.</span><br><span class="document-property-authors_fields">Economie</span> | <span class="document-property-year">2013</span>"
    "keywordList" => "<a href="#">Dette publique</a>, <a href="#">Éviction financière</a>, <a href="#">Multiplicateur fiscal</a>, <a href="#">Zone euro</a>"
    "docPreview" => "<b>The Spending Multiplier in a Time of Massive Public Debt: The Euro-Area Case</b><br><span>2013-03 | Articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://halshs.archives-ouvertes.fr/hal-00728230/" target="_blank">The Spending Multiplier in a Time of Massive Public Debt: The Euro-Area Case</a>"
  ]
  +lang: "fr"
  +"_type": "_doc"
  +"_score": 9.357207
  +"parent": null
}