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"This paper relaxes some key assumptions in the probabilistic approach to fiscal sustainability. First, the authors identify structural breaks over the sample period used to estimate the covariance matrix of the shocks to the debt ratios. Second, the assumption of normality of the shocks is...
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explore empirically these issues using household data covering nine episodes from four Latin American countries (Brazil …, Colombia, Mexico, and Peru). They find that in these countries standard CPI inflation typically reflects the inflation rate …
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Brazil, Chile, and Mexico. Costs include investment banking and legal fees, regulatory and exchange listing costs, rating …
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Argentina approaches its bicentennial as an independent republic and has a window of opportunity in social protection …
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