In the analysis of public and external debt sustainability the National Bank of the Republic of Macedonia is actively … using the IMF's Debt Sustainability Analysis (DSA) framework. The aim of our analysis is to improve the analytical power of … determine public and external debt dynamics, within the IMF's standard debt sustainability framework. VAR estimation is used in …

interest payments on debt are not to explode. … interest net of taxes that exceeds the real growth rate will not generate explosive interest flows, even when the government is …

low consumption and output, high interest rates, negative asset holdings, current account deficits, high inflation and …

borrowing is positively and significantly related to capital flight, suggesting that to a large extent capital flight is debt … policy indicators, the interest rate differential, exchange rate appreciation, financial development, and indicators of the … political environment and governance. We discuss the implications of the results for debt relief and for policies aimed at …

creating and organizing markets. By contrast, this paper locates the origin of money in credit and debt relations, with the … chosen by the state, and is enforced through denominating tax liabilities in the state's own currency. What is the … public interest, without worrying about availability of finance." The alternative view of money leads to quite different …

government expenditures faces a fearful public that forms pessimistic expectations. We identify two forces that shape our results … motive for expectation management that aims towards the manipulation of equilibrium prices of government debt in a favorable …

We examine the impact of different degrees of fiscal feedback on debt in an economy with nominal rigidities where …