Public debt, interest rates and the crowding‑out of private investment in the European Union: an Austrian‑economics reinterpretation
Author: Santiago Sainz 1. Introduction Since the global financial crisis of 2008 and, especially, since the COVID‑19 pandemic, public debt ratios in the European Union have risen to structurally higher levels than those observed in previous decades. This process has been accompanied by a prolonged period of extraordinarily low, and at times negative, real interest […]