fiscal sustainability. A welfare analysis shows that consumers’ welfare is increased when the government smoothes the fiscal … required to preserve fiscal sustainability would completely wipe out the welfare gain of higher public investments …

spending over the business cycle while remaining consistent with public debt sustainability. Under the proposed framework, a …

sustainability for each of the G-7 countries using two standard primary gap indicators. The estimated fiscal adjustment required to … ensure long-run fiscal sustainability is substantial for all G-7 countries. In particular, ensuring fiscal sustainability … adjustment required to achieve long-run fiscal sustainability in G-7 countries is large, there are significant growth benefits to …

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 …

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 …

use of (country-specific) debt thresholds to assess debt sustainability. We argue that the level of the debt-to-GDP ratio …