Is more government debt or currency depreciation expansionary? The case of Poland

Yu Hsing
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Yu Hsing: Southeastern Louisiana University, Hammond, USA

Theoretical and Applied Economics, 2017, vol. XXIV, issue 3(612), Autumn, 63-70

Abstract: This paper finds that Poland’s aggregate output is positively associated with the government debt-to-GDP ratio, the real effective exchange rate during 2002.Q4-2007.Q3, the real stock price and the real oil price and negatively impacted by the real effective exchange rate during 2007.Q4-2016.Q4, the real interest rate and the expected inflation rate. Hence, the current level of the debt-to-GDP ratio is sustainable, and real depreciation may be contractionary or expansionary depending upon the time period under consideration.

Keywords: government debt; real appreciation or depreciation; stock prices; oil prices. (search for similar items in EconPapers)
Date: 2017
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