@Kumar_EconIneq @krogoff @IMFNews @MEDevEcon @upanizza @JustinSandefur @AtifRMian @BaldwinRE @ryanavent @davidmwessel @arindube @ThomasHerndon1 Here a simple scatter plot (done with @michaelstepner binscatter) of 5-year real growth against initial debt (WEO data), the same 20 advanced economies, absorbing country and year FE. OLS regression shows that 10 pps more in debt are associated with 0.2 pps lower growth 
@Kumar_EconIneq @krogoff @IMFNews @MEDevEcon @upanizza @JustinSandefur @AtifRMian @BaldwinRE @ryanavent @davidmwessel @arindube @ThomasHerndon1 @michaelstepner Same charts for total private debt (loans and debt securities) is flat, but if limited to hh debt the relationship is again negative
@Kumar_EconIneq @krogoff @IMFNews @MEDevEcon @upanizza @JustinSandefur @AtifRMian @BaldwinRE @ryanavent @davidmwessel @arindube @ThomasHerndon1 @michaelstepner The correlation between public debt and growth is quite robust and remain relatively stable when dropping one country at the time
@Kumar_EconIneq @krogoff @IMFNews @MEDevEcon @upanizza @JustinSandefur @AtifRMian @BaldwinRE @ryanavent @davidmwessel @arindube @ThomasHerndon1 @michaelstepner Public debt and public investment in advanced economies
