primary surplus of at least 2 percent of GDP until 2021 is supporting debt reduction, stochastic simulations indicate that … further improvement in the primary balance is necessary to reliably bring the debt-to-GDP ratio to a sustainable path. Given … debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing …

With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal … true cost of debt may be overstated if interest rates remain low. To shed light into this debate, this paper re …-examines the importance of public debt as a leading indicator of fiscal crises using machine learning techniques to account for …

This paper reviews Latvia’s efforts to manage the increase in debt distress resulting from the unwinding of the 2000 … incentives for marked-based debt resolution by improving the legal framework for credit enforcement, introducing tax incentives … for debt write-downs, and strengthening financial sector supervision. These measures have started to yield results, but …

In the wake of the COVID-19 pandemic, debt levels in emerging and developing economies have surged raising concerns … about fiscal sustainability. Historically, negative interest-growth differentials in these countries have played a debt …-stabilizing role. But is this enough to prevent countries from falling into debt distress? Drawing from a sample of 150 emerging and …

level of debt. In other words, evidence points to non-linearities in the effects of fiscal policy. This paper provides a … framework to examine the role of the level of government debt in the assessment of consolidation policies across the business … cycle, allowing for the consolidation multiplier to depend on the level of debt at the time of consolidation. The empirical …

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different …

debt sustainability over the next decade, taking into account alternative recovery scenarios and associated fiscal … persistent economic effects of the pandemic, risks to the Dutch fiscal and debt sustainability would remain contained …