Asymmetric paths of public debts and of general government deficits across countries within and outside the European monetary unification and economic policy of debt dissolution

Coccia, Mario

doi:10.1016/j.jeca.2016.10.003

Cited by 59 publications

(24 citation statements)

References 69 publications

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“…This can happen if the increase in public debt and investment in production results in higher returns from increased taxes or a minimum amount of risk-free rate of return. Coccia (2017) supported the asymmetric relationship between public debt and government deficit within and outside unification of the European monetary establishment. Public debt increases when budget deficits increase, compared to countries outside the EMU, and as a consequence the taxes also increase.…”

Section: Literature Reviewmentioning

confidence: 92%

Public debt and private consumption in Asia Pacific countries: Is there evidence for Ricardian equivalence?

Kusairi¹,

Maulina²,

Margaretha³

2019

Journal of International Studies

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The study analyses the effect of public debt on private consumption. It indirectly tests whether a Ricardian equivalence proposition exists in differentiated financial development for the yearly data of 18 Asia Pacific countries from 1990 to 2017 using dynamic heterogeneous panel data analysis. The results allow concluding that public debt and private consumption have a long-term co-integrated relationship, and in the general approach, Ricardian equivalence does exist in both long and short term. This implies that an increase in public debt does not increase private consumption because consumers expect governments to raise taxes to service debt such as principal and interest payments. But under the traditional approach Ricardian equivalence does not exist, thus, public debt does affect private consumption. In addition, income, capital accumulation, government expenditure, real interest rate and inflation have a positive effect on private consumption. The key implication of these results is that financial development does not provide evidence for the existence of Ricardian equivalence as it does not have a different effect for different countries.

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Section: Literature Reviewmentioning

confidence: 92%

Public debt and private consumption in Asia Pacific countries: Is there evidence for Ricardian equivalence?

Kusairi¹,

Maulina²,

Margaretha³

2019

Journal of International Studies

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“…or ozone. Beyond this critical estimated limit, there are environmental inconsistencies of air pollution associated with meteorological conditions that can trigger a take-off of viral infectivity with damages for health of population and economic system (cf., Coccia, 2017c, 2017d). The max number of days in which cities can exceed the limit set for air pollution that minimizes the number of people infected, before the take-off of epidemic curve, can also suggest implications of proactive strategies and critical decision to cope with future epidemics similar to COVID-19 in society.…”

Section: Data and Study Designmentioning

confidence: 99%

Two mechanisms for accelerated diffusion of COVID-19 outbreaks in regions with high intensity of population and polluting industrialization: the air pollution-to-human and human-to-human transmission dynamics

Coccia

2020

Preprint

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What is COVID-19? Coronavirus disease 2019 (COVID-19) is viral infection that generates a severe acute respiratory syndrome with serious pneumonia that may result in progressive respiratory failure and death. What are the goals of this investigation? This study explains the geo-environmental determinants of the accelerated diffusion of COVID-19 in Italy that is generating a high level of deaths and suggests general lessons learned for a strategy to cope with future epidemics similar to COVID-19 to reduce viral infectivity and negative impacts in economic systems and society. What are the results of this study? The main results are: o The accelerate and vast diffusion of COVID-19 in North Italy has a high association with air pollution. o Hinterland cities have average days of exceeding the limits set for PM10 (particulate matter 10 micrometers or less in diameter) equal to 80 days, and an average number of infected more than 2,000 individuals as of April 1st, 2020, coastal cities have days of exceeding the limits set for PM10 equal to 60 days and have about 700 infected in average. o Cities that average number of 125 days exceeding the limits set for PM10, last year, they have an average number of infected individual higher than 3,200 units, whereas cities having less than 100 days (average number of 48 days) exceeding the limits set for PM10, they have an average number of about 900 infected individuals. o The results reveal that accelerated transmission dynamics of COVID-19 in specific environments is due to two mechanisms given by: air pollution-to-human transmission and human-to-human transmission; in particular, the mechanisms of air pollution-to-human transmission play a critical role rather than human-to-human transmission. o The finding here suggests that to minimize future epidemic similar to COVID-19, the max number of days per year in which cities can exceed the limits set for PM10 or for ozone, considering their meteorological condition, is less than 50 days. After this critical threshold, the analytical output here suggests that environmental inconsistencies because of the combination between air pollution and meteorological conditions (with high moisture%, low wind speed and fog) trigger a take-off of viral infectivity (accelerated epidemic diffusion) with damages for health of population, economy and society. What is a socioeconomic strategy to prevent future epidemics similar to COVID-19? Considering the complex interaction between air pollution, meteorological conditions and biological characteristics of viral infectivity, lessons learned for COVID-19 have to be applied for a proactive socioeconomic strategy to cope with future epidemics, especially an environmental policy based on reduction of air pollution mainly in hinterland zones of countries, having low wind speed, high percentage of moisture and fog that create an environment that can damage immune system of people and foster a fast transmission of viral infectivity similar to the COVID-19. This study must conclude that a strategy to prevent future epidemics similar to COVID 19 has also to be designed in environmental and sustainability science and not only in terms of biology.

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“…The viral infection of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) generates the coronavirus disease 2019 (COVID-19) that is causing the death of many individuals worldwide (Gattinoni et al 2020 ; Sterpetti 2020 ; Wang et al 2020 ). COVID-19 is threatening global public health security and also creating socio-economic issues, such as the contraction of real GDP growth and increase of public debts in countries (EIU 2020 ; Wang and Su 2020 ; cf., Coccia 2016 , 2017 ).…”

Section: Introductionmentioning

confidence: 99%

Effects of the spread of COVID-19 on public health of polluted cities: results of the first wave for explaining the dejà vu in the second wave of COVID-19 pandemic and epidemics of future vital agents

Coccia

2021

Environ Sci Pollut Res

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137

138

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Asymmetric paths of public debts and of general government deficits across countries within and outside the European monetary unification and economic policy of debt dissolution

Cited by 59 publications

References 69 publications

Public debt and private consumption in Asia Pacific countries: Is there evidence for Ricardian equivalence?

Public debt and private consumption in Asia Pacific countries: Is there evidence for Ricardian equivalence?

Two mechanisms for accelerated diffusion of COVID-19 outbreaks in regions with high intensity of population and polluting industrialization: the air pollution-to-human and human-to-human transmission dynamics

Effects of the spread of COVID-19 on public health of polluted cities: results of the first wave for explaining the dejà vu in the second wave of COVID-19 pandemic and epidemics of future vital agents

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