2 papers
econ.EM2024
How do financial variables impact public debt growth in China? An empirical study based on Markov regime-switching model
Tianbao Zhou, Zhixin Liu, Yingying Xu
The deep financial turmoil in China caused by the COVID-19 pandemic has exacerbated fiscal shocks and soaring public debt levels, which raises concerns about the stability and sust…
econ.GN2024
Characterizing Public Debt Cycles: Don't Ignore the Impact of Financial Cycles
Tianbao Zhou, Zhixin Liu, Yingying Xu
Based on the quarterly data from 26 advanced economies (AEs) and 18 emerging market economies (EMs) over the past two decades, this paper estimates the short- and medium-term impac…