This paper provides an evaluation of the long-term fiscal sustainability of advanced economies, based on current estimates of these economies’ current-policy fiscal trajectories. As will be quite evident, for many countries short-term fiscal measures, such as the debt-GDP ratio and the...

We construct a computational dynamic stochasticand explore the impact of policy stickiness on optimal long-run fiscal policy.

We construct a computational dynamic stochastic and explore the impact of policy stickiness on optimal long-run fiscal policy.