the requirements of transparency and helps ensure that governments continue to pursue publicly valued goals. This concept …

This paper first recalls the high level of public indebtedness in Quebec. A literature review and a description of the … public finances and indebtedness; and (3) the lack of a scientific consensus regarding the debt targets and policies that … governments should pursue. The paper analyzes and uses the ""traditional rule"" for indebtedness, which states that government …

percentage change in GDP, an income surprise variable combined with lagged aggregate indebtedness, a real interest rate surprise … variable combined with lagged aggregate indebtedness, and a deregulation dummy. The innovation in this paper is the use of … surprise variables based on macroeconomic forecasts. According to the results, high indebtedness combined with negative …