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In the wake of the financial crisis there has been renewed focus on the importance of a country’s net external debt position in determining domestic interest rates and, relatedly, its vulnerability to a crisis. This paper extends the panel estimation of OECD countries described in Turner and...
Persistent link: https://www.econbiz.de/10010231409
With gross government debt surpassing 200% of GDP, Japan’s fiscal situation is in uncharted territory. In addition to robust nominal GDP growth, correcting two decades of budget deficits requires a large and sustained fiscal consolidation based on a detailed and credible multi-year plan that...
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sustainability of public finances. The Belgian strategy to prefund ageing costs by generating fiscal surpluses to bring down public …
Persistent link: https://www.econbiz.de/10009690151
growth, exchange rate and interest spreads – put Hungarian debt sustainability at risk. To assess debt sustainability over a … main risks to debt sustainability lie in growth shocks, whose volatility is high in Hungary. This highlights the crucial … role of growth for debt sustainability. The impact of exchange rate depreciation can also be important, especially if …
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economic sustainability with the adequacy of services. …
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The recent euro area sovereign debt crisis has shown the importance of market reactions for the sustainability of debt …
Persistent link: https://www.econbiz.de/10011399483