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Fiscal Sustainability in Remittance-Dependent Economies

Chami, Ralph - 2009

We investigate the impact of remittances on public debt sustainability and detail how the traditional debt-to-GDP ratio … can be modified to create a more accurate representation of debt sustainability for a country that receives significant … remittance inflows. The main result is that inclusion of remittances into the traditional debt sustainability analysis alters the …

Persistent link: https://www.econbiz.de/10012677866

Fiscal Sustainability

Tanner, Evan - 2013

This paper critically reviews recent work regarding the sustainability of public debt. It argues that Debt … Sustainability Analyses (DSAs) should be more than mere mechanical simulation exercises. Instead, a DSA should be linked to some …

Persistent link: https://www.econbiz.de/10012689867

Government Size and Output Volatility : Should We Forsake Automatic Stabilization?

Pisani-Ferry, Jean - 2008

The paper takes stock of the debate on the positive link between output volatility and the size of government-which reflects automatic stabilizers. After a survey of the literature, we show that the contribution of automatic stabilizers to output stability may have disappeared since the 1990s....

Persistent link: https://www.econbiz.de/10014409031

Public Debt and Real GDP: Revisiting the Impact

de Soyres, Constance - 2022

This paper provides new empirical evidence of the impact of an unanticipated change in public debt on real GDP. Using public debt forecast errors, we identify exogenous changes in public debt to assess the impact of a change in the debt to GDP ratio on real GDP. By analyzing data on gross public...

Persistent link: https://www.econbiz.de/10015060462

Fiscal foresight and information flows

Leeper, Eric M.; Walker, Todd B.; Yang, Shu-Chun S. - 2012

News - or foresight - about future economic fundamentals can create rational expectations equilibria with non-fundamental representations that pose substantial challenges to econometric efforts to recover the structural shocks to which economic agents react. Using tax policies as a leading...

Persistent link: https://www.econbiz.de/10009618558

Measuring the Stances of Monetary and Fiscal Policy

Vitek, Francis - 2023

We derive measures of the stances of monetary and fiscal policy within the framework of an empirically plausible extension of the basic New Keynesian model, and jointly estimate them for the United States using a closed form multivariate linear filter. Our theoretical analysis reveals that the...

Persistent link: https://www.econbiz.de/10015059505

Government Size and Output Volatility

Pisani-Ferry, Jean - 2008

Persistent link: https://www.econbiz.de/10012677598

Output Gap Uncertainty and Fiscal Policy Adjustment in Real-Time in Emerging Economies

Cattelan, Giacomo - 2024

Uncertainty around the real-time output gap has important implications for fiscal policy. This study uses successive vintages of the World Economic Outlook for emerging markets (EMs) during 1998-2022 to examine the reaction of discretionary fiscal policy to uncertain economic cycle in real-time....

Persistent link: https://www.econbiz.de/10015328228

Original Sin and Procylical Fiscal Policy : Two Sides of the Same Coin?

Adler, Gustavo - 2008

The paper develops a simple model of sovereign debt where default both through direct repudiation and through inflation are possible and give rise to (endogenous) constraints on the currency composition and the level of public debt. This set up allows to show that procyclicality of fiscal policy...

Persistent link: https://www.econbiz.de/10014409058

The Us Federal Debt Outlook : Reading the Tea Leaves

Celasun, Oya - 2010

We show that fiscal policies reflecting a primary balance response to higher debt in line with historic experience would significantly increase the likelihood of reaching the debt targets of the U.S. administration in the medium term. Deficits and debt are higher under current budgetary...

Persistent link: https://www.econbiz.de/10014409158