Variables/Regressions | (22) | (23) |
Dependent Variables |
|
|
Public Debt | X |
|
Private Debt |
| X |
Independent Variables |
|
|
GDP growth | −18.60453** (−2.78) | −25.89107** (−2.37) |
GDP per capita & productivity | 1.145167* (2.08) | 2.605455*** (2.89) |
Pensions as % of GDP | 3.828558* (1.77) | −9.671682 (−2.74) |
Unemployment | 3.945936* (2.12) | 2.18928 (0.72) |
Corporate income tax rate | −2.60177 (−1.56) | −3.533783 (−1.30) |
Constant | 53.7111 (1.16) | 233.1074 (3.08) |
Observations | 18 | 18 |
Adjusted R-squared | 0.5591 | 0.6215 |