Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/303459 
Year of Publication: 
2022
Series/Report no.: 
LEQS Paper No. 176
Publisher: 
London School of Economics and Political Science (LSE), European Institute, London
Abstract: 
This paper analyzes the dynamics of the Spanish public debt-GDP ratio during the period 1850-2021. We use recent procedures to test for explosive bubbles under the presence of time-varying volatility (Harvey, Leybourne, Sollis and Taylor, 2016; Harvey, Leybourne and Zu, 2019, 2020; Kurozumi, Skorobotov and Tsarev, 2022) to test for explosive behavior of the Spanish public debt over this long period. We extend the previous analysis of Esteve and Prats (2022) where constant unconditional volatility in the underlying error process was assumed.
Subjects: 
Public debt
Rational bubble
Explosive autoregression
Time-varyingvolatility
Right-tailed unit root testing
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.