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Table 5 Coefficients’ estimations of a VAR (2) model between the \( {D}_t^{\mathrm{ln}} \) and \( {G}_t^{\mathrm{ln}} \) for all phases. Top: model for \( {D}_t^{\mathrm{ln}} \). Bottom: model for \( {G}_t^{\mathrm{ln}} \). Italics: significant results with 5% level

From: Debt, economic growth, and interest rates: an empirical study of the Swiss case, presenting a new long-term dataset: 1894–2014

\( {D}_t^{\mathrm{ln}} \)=

Coefficient

p value

\( {D}_{t-1}^{\mathrm{ln}} \)

1.422

0.000

\( {D}_{t-2}^{\mathrm{ln}} \)

− 0.441

0.000

\( {G}_{t-1}^{\mathrm{ln}} \)

− 0.432

0.000

\( {G}_{t-2}^{\mathrm{ln}} \)

0.445

0.000

 Const

0.051

0.094

\( {G}_t^{\mathrm{ln}} \)=

Coefficient

p value

\( {D}_{t-1}^{\mathrm{ln}} \)

0.038

0.664

\( {D}_{t-2}^{\mathrm{ln}} \)

−0.019

0.835

\( {G}_{t-1}^{\mathrm{ln}} \)

0.992

0.000

\( {G}_{t-2}^{\mathrm{ln}} \)

−0.010

0.910

 Const

0.031

0.379