Showing 1 - 10 of 954
This paper assesses the cyclicality and sustainability of fiscal policy in Belize and applies a stochastic simulation … debt sustainability. It recommends integrating such rules into a well-designed fiscal responsibility law and establishing …
Persistent link: https://www.econbiz.de/10012154706
We study gains from introducing a common numerical fiscal rule in a "Union" of model economies facing sovereign default risk. We show that among economies in the Union, there is significant disagreement about the common debt limit the Union should implement: the limit preferred by some economies...
Persistent link: https://www.econbiz.de/10012605545
Public and private sector balance sheets are an important component to any analysis of debt sustainability. A …
Persistent link: https://www.econbiz.de/10012613508
The initial government debt-to-GDP ratio and the government's commitment play a pivotal role in determining the welfare-optimal speed of fiscal consolidation in the management of a debt crisis. Under commitment, for low or moderate initial government debt-to-GPD ratios, the optimal consolidation...
Persistent link: https://www.econbiz.de/10011670476
Persistent link: https://www.econbiz.de/10010359920
The World Bank and the IMF have adopted a debt sustainability framework (DSF) to evaluate the risk of debt distress in …
Persistent link: https://www.econbiz.de/10014411169
This article surveys the literature on sovereign debt sustainability from its origins in the mid-1980s to the present …, focusing on four debates. First, the shift from an "accounting based" view of debt sustainability, evaluated using government … relationship between primary balances to debt. Third, debt sustainability in the presence of rollover risk. And fourth, whether …
Persistent link: https://www.econbiz.de/10013170526
other countries in the Eurozone, and how they may be addressed by policies at the European level …
Persistent link: https://www.econbiz.de/10014394354
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 …
Persistent link: https://www.econbiz.de/10012485963
Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to … climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries … fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance …
Persistent link: https://www.econbiz.de/10012170127