There is a long period since the problem of public debt sustainability captures the attention of economists. However, there is no unanimity concerning an adequate unique sustainability indicator or function generally accepted. Just in this line of elaborating new models and improving...

The current crisis has proven the importance of the national banking system. Sovereign funds will play an important role in reinforcing the position of several emerging countries and markets in the world. The great amount of financing needed in order to fix the problems and the gaps brought by...

Can longer working lives bring sufficient tax revenues to pay for the growing public health and care expenditure that longer lifetimes cause? We review studies concerning retirement decisions and pension policies, the role of mortality in health and long-term care costs, and errors in mortality...

Çalışmanın birinci amacı borcun zaman içinde sürdürülebilirliği ve sonlanması kavramını eleştirel bir yaklaşım getirmektir. Türkiye örneğinden yola çıkarak borçların, geçici bir olgudan ziyade, süreklilik gösteren bir sürece tekabül ettiği görülmektedir....

We project the path of the public debt and primary surpluses for a number of countries in the euro area under a fiscal rule based on a set of estimated fiscal policy reaction functions. Our fiscal rule represents a fiscal analogue to a well-known monetary policy rule, and it is calibrated using...

The article shows the systematic mistake in the form of underestimation of project budget revenues. It is accompanied by the artificial increase in budget deficit which causes excessive borrowings and debt growth while in fact budget surplus takes place. It is proved that state borrowing and...

This paper discusses how poor debt management combined with the policies of donor agencies (particularly the IMF) have brought on the present domestic and foreign debt crises. The paper presents a qualitative account of the debt in Pakistan and then analyzes the debt data using various debt...

The influence of debt on macroeconomic stability and the ability to restart growth has been a constant concern since the Second World War period. In recent decades, public debt has increased considerably in most countries. Upward trend of public debt was accompanied by an increase in public...

The economic and financial crisis was the catalyst for a fiscal crisis that engulfs many OECD countries. Consolidating public finances in order to address the consequences of the crisis, underlying weaknesses and also future spending pressures creates important challenges. Fiscal consolidation...

To assess to which extent public debt positions in four CESEE economies (the Czech Republic, Hungary, Poland and Slovakia) are sustainable in the medium term, we apply a stochastic debt sustainability analysis (SDSA), building on Celasun, Debrun and Ostry (2007). In contrast to conventional debt...