Table 1: Main results of our econometric model

	Dependent variable:
	Household_debt
Public_expenditures	3.252***
	(0.581)
Real_wages	-2.124**
	(0.899)
Public_debt	-1.957***
	(0.204)
Constant	45.347**
	(19.293)
Observations	24
R2	0.869
Adjusted R2	0.849
Residual Std. Error	4.198 (df = 20)
F Statistic	44.244*** (df = 3; 20)
Note:	*p<0.1; **p<0.05; ***p<0.01