financial inclusion in Cambodia. Based on a difference-in-difference analysis on bank and microfinance supervisory data, results …

contract their balance sheets. These bank responses generate externalities that propagate in the form of macro … macro-financial feedback loops can significantly affect macroeconomic outcomes and bank-specific stress tests results. The … heterogeneity in bank lending responses matters: it determines how each bank fares under adverse conditions and the external effects …

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 …

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 …