Narrow search
Showing 1 - 10 of 1,317
Cover Image
Fiscal Limits in Advanced Economies
Leeper, Eric M. - 2011
Aging populations in advanced economies are placing ever-increasing demands on government spending in the form of old-age benefits. Economies that have promised substantially more benefits than they have made provision to finance are heading into a prolonged era of fiscal stress. Unresolved...
Persistent link: https://www.econbiz.de/10013129132
Cover Image
An Analysis of Puerto Rico's Debt Relief Needs to Restore Debt Sustainability
Gluzmann, Pablo Alfredo - 2018
was certified in March 2017 for fiscal years 2017-18 to 2026-27. Second, we perform a Debt Sustainability Analysis (DSA … that the island's current debt position is unsustainable, and compute the necessary debt relief to restore sustainability …
Persistent link: https://www.econbiz.de/10012907769
Cover Image
External Validity in a Stochastic World
Rosenzweig, Mark R. - 2016
We examine the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external validity is shown to depend upon the distribution of the aggregate shocks and the interaction between these...
Persistent link: https://www.econbiz.de/10012986284
Cover Image
Japanese Government Debt and Sustainability of Fiscal Policy
Doi, Takero - 2011
analyze the sustainability of the fiscal policy. We pursue three approaches to examine the sustainability. First, we calculate …
Persistent link: https://www.econbiz.de/10013121087
Cover Image
Fiscal Stability of High-Debt Nations Under Volatile Economic Conditions
Hall, Robert E. - 2013
Using a recursive empirical model of the real interest rate, GDP growth, and the primary government deficit in the U.S., I solve for the ergodic distribution of the debt/GDP ratio. If such a distribution exists, the government is satisfying its intertemporal budget constraint. One key finding is...
Persistent link: https://www.econbiz.de/10013087045
Cover Image
A Model of the Safe Asset Mechanism (Sam) : Safety Traps and Economic Policy
Caballero, Ricardo J. - 2013
The global economy has a chronic shortage of safe assets which lies behind many recent macroeconomic imbalances. This paper provides a simple model of the Safe Asset Mechanism (SAM), its recessionary safety traps, and its policy antidotes. Safety traps share many common features with...
Persistent link: https://www.econbiz.de/10013087881
Cover Image
Game Over : Simulating Unsustainable Fiscal Policy
Evans, Richard W. - 2014
Fiscal sustainability is one of the most pressing policy issues of our time. Yet it remains difficult to quantify …
Persistent link: https://www.econbiz.de/10013064889
Cover Image
What is a Sustainable Public Debt?
D'Erasmo, Pablo - 2015
traditional approach to evaluate debt sustainability, and examine three alternative approaches that provide useful econometric and … model-simulation tools to analyze debt sustainability. The first approach is Bohn's non-structural empirical framework based … three approaches to analyze debt sustainability in the United States and Europe after the recent surge in public debt …
Persistent link: https://www.econbiz.de/10013015096
Cover Image
The Environment and Directed Technical Change
Acemoglu, Daron - 2010
This paper introduces endogenous and directed technical change in a growth model with environmental constraints and limited resources. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation....
Persistent link: https://www.econbiz.de/10013150439
Cover Image
A New Index of Debt Sustainability
Blanchard, Olivier J. - 2017
Debt sustainability is fundamentally a probabilistic concept: Debt is rarely sustainable with probability one. We … propose an index of external debt sustainability that reflects this uncertainty. Namely we construct the index as the … strong measures are potentially needed to reestablish sustainability. Exchange rates that appear overvalued in the baseline …
Persistent link: https://www.econbiz.de/10012941936