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solvency. This is compared with the corresponding cost if India were to repudiate its debts and experience financial autarky as …
Persistent link: https://www.econbiz.de/10005666962
In terms of the ratio of its public debt and public deficit to GDP the United States lies in the middle of the pack of industrial countries. The period since 1980 is the only peacetime period outside the Great Depression to see a sustained increase in the debt-GDP ratio. The budgetary...
Persistent link: https://www.econbiz.de/10005123675
This paper explores the relationship between the myopia, the solvency and the reputation of a government choosing the …
Persistent link: https://www.econbiz.de/10005124397
-sector savings and investment and those of the nation as a whole have been consistent with long-term solvency over the last three …-run external solvency. We find evidence that a number of countries violate both domestic intertemporal budget constraints, but …
Persistent link: https://www.econbiz.de/10005281322
This study updates and extends to the period 1988/9--1992/3 our earlier analysis of the public finances of India. The …
Persistent link: https://www.econbiz.de/10005114352
This paper considers the economic and political drivers of sovereign default, focusing on countries rich enough to render sovereign default a ‘won’t pay’ rather than a ‘can’t pay’ phenomenon. Unlike many private contracts, sovereign debt contracts rely almost exclusively on...
Persistent link: https://www.econbiz.de/10011084128
Union: the solvency of their government’s finances; and the accuracy of fiscal forecasts. Extending the existing methodology … of solvency tests, the paper finds that, with few exceptions, EU governments are insolvent, albeit debt/GDP ratios show …
Persistent link: https://www.econbiz.de/10005656359
accounts. The results of various solvency tests indicate that, in spite of the recent worsening of the current account, the …
Persistent link: https://www.econbiz.de/10005661449
The paper studies the solvency of the Indian public sector and the eventual monetization and inflation implied by … suggests that solvency cannot be maintained with an indefinite continuation of the pattern of behaviour reflected in the … seigniorage will not be sufficient to restore solvency. …
Persistent link: https://www.econbiz.de/10005661689
liquidity is inefficient. The reason is that liquidity affects prices and the welfare of others, and creators do not internalize … government must restrict the creation of liquidity by the private sector. …
Persistent link: https://www.econbiz.de/10009246599