imprecision about which debt targets should be pursued. It then examines the evidence regarding the exogenous and policy …

automatic stabilizers and the policy response to the crisis. Consequently, public debt now stands at its highest level since the … early–1950s. The Administration has proposed the objective of stabilising the debt-GDP ratio by 2015, which is realistic in …

Accumulating debt raises concerns about its implications for macroeconomic stability. This paper sheds light on the … implications of high indebtedness for the macroeconomic volatility by identifying the main drivers of the evolution of debt in a … set of countries. The country choice was based on large deleveraging episodes of total economy debt, identified by turning …

foundation for economic growth. As a result, GDP growth has been strong and stable, inflation has fallen, and the public debt …, and the recent increase in inflation and rising levels of private sector external debt draw attention to Turkey …

growth. This suggests a remarkable fiscal effort to ensure public debt sustainability. To better gauge the magnitude of this … increase in the debt-to-GDP ratio by 1 percentage point is associated with a decrease in discretionary federal spending by 0 …