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Debt Decomposition and the Role of Inflation:A Security Level Analysis for...
In this paper, to study India’s debt dynamics, we assemble a novel data-set on Indian public debt with consistently defined aggregate annual components from 1951–2018, and Centre-State security level data from 2000–2018. Based on aggregate debt data, we quantify the contribution of inflation, real GDP growth, nominal interest rates and primary deficit/surplus ...