Table 2.

Overall budget deficit targets.

$\alpha$	$y$	$d_{t-1}$
		30	60	100	140	170
		(1)	(1)	(2)	(3)	(3)
	0.035	2.5	2.0	1.4	0.7	0.2
0.05	0.030	2.4	1.7	0.9	0.1	−0.5
	0.025	2.2	1.5	0.4	−0.6	−1.4
	0.035	1.9	2.0	2.2	2.3	2.4
0.03	0.030	1.8	1.7	1.7	1.7	1.7
	0.025	1.6	1.5	1.2	1.0	0.8
	0.035	1.3	2.0	3.0	3.9	4.6
0.01	0.030	1.2	1.7	2.5	3.3	3.9
	0.025	1.0	1.5	2.0	2.6	3.0

Note: $\alpha$ labels the speed of debt adjustment, $y$ the nominal GDP growth rate and $d_{t-1}$ the lagged debt ratio.