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How to stop the snowball growth? A way for sustaining public debt over generations

deficit accounting , No. w3589, National Bureau of Economic Research, pp. 55-110, Chapter in Tax Policy and the Economy, Volume 5, Edited by David Bradford. [5] Balassone, F., Franco, D., & Zotteri, S. (2004). Public Debt: A Survey of Policy Issues, Bank of Italy, Research Department, Public Finance Workshop, 1-3 April 2004, Perugia. [6] Barro T. R. (1979). On the Determination of Public Debt, The Journal of Political Economy , Vol. 87, No. 5, Part 1 (Oct., 1979), pp. 940-971. [7] Blanchard, O.J. (1985). Debt, Deficits and Finite Horizons, Journal

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Potential Hidden Losses for Slovakia as a Member of the European Monetary Union

on the 20th of September 2012 [cit. 2012-10-15]. Available at: Cline, W. R. Sovereign Debt Sustainability in Italy and Spain: A Probabilistic Approach [online]. c2012, updated in August 2012 [cit. 2012-10-15]. Available at: Cline, W. R. Sustainability of Greek public debt [online]. c2011, updated in October 2011 [cit. 2012-10-15]. Available at:

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Macroeconomic Factors of Economic Growth in the European Union in 2000-2016: A Multidimensional Analysis


The creation of an effective growth policy requires the identification of its key determinants. The study used one of the methods of multidimensional analysis – discriminant analysis. It is widely used on a microeconomic scale, especially in the area of forecasting bankruptcy of enterprises, but in the area of economic growth, it has not been used in practice so far. In addition to the main objective of identifying the most important economic growth factors of the European Union countries in 2000-2016, the impact of the crisis and accession to the EU was examined. The statistical data sources were the databases of Eurostat and the Conference Board (Total Economy Database). The results obtained allowed us to conclude that the rate of Gross Domestic Product growth in the EU countries was determined by consumption, investment, export and labour productivity, and in periods of economic slowdown also public debt. The enlargement of the EU resulted in an increase in the importance of export.

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Salvaging the European Union: The Inclusive Multi-Track Supranational Option

of Comparative Economic Studies , 12: 101-112. [27] Rosefielde, S - Liu, Y. (2018): Local Public Debt Management: Lessons from Greece in Inclusive Economic Perspective, Singapore Economic Review . [28] Rosefielde, S. – Pfouts, R.W. (2014): Inclusive Economic Theory. Singapore: World Scientific Publishers. [29] Simon, H. A. (1957): Models of Man: Social and Rational – Mathematical Essays on Rational Human Behavior in a Social Setting . New York: John Wiley and Sons. [30] Thaler, Richard, “Misbehaving: The Making of Behavioral Economics

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