We document a decline in the dollar share of international reserves since the turn of the century. This decline …, or of changes in coverage of surveys of reserve composition. Strikingly, the decline in the dollar's share has not been … that, along with the dollar, have historically comprised the IMF's Special Drawing Rights. Rather, the shift out of dollars …

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 …

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 …

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 …

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 …