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Persistent link: https://www.econbiz.de/10015116246
In this paper I analyze the relationship between fiscal policy, aggregate public sector debt sustainability, and debt relief. I develop a methodology to compute the fiscal policy path that is compatible with aggregate debt sustainability in the post-HIPC era. The model explicitly considers the...
Persistent link: https://www.econbiz.de/10013224851
In this paper I analyze the relationship between fiscal policy, aggregate public sector debt sustainability, and debt relief. I develop a methodology to compute the fiscal policy path that is compatible with aggregate debt sustainability in the post-HIPC era. The model explicitly considers the...
Persistent link: https://www.econbiz.de/10012469775
This paper analyzes Latin America's experience with fiscal adjustment during the last decade. The paper discusses in detail how some countries -- most notably Argentina, Chile and Mexico -- were successfully able to eliminate their fiscal deficits in a relatively short period of time. Their...
Persistent link: https://www.econbiz.de/10013324464
This paper analyzes Latin America's experience with fiscal adjustment during the last decade. The paper discusses in detail how some countries -- most notably Argentina, Chile and Mexico -- were successfully able to eliminate their fiscal deficits in a relatively short period of time. Their...
Persistent link: https://www.econbiz.de/10012473457
In this paper I develop a model to investigate the connection between debt relief and current account sustainability. This model can be used as a key input in assessing whether a HIPC country's real exchange rate is 'overvalued,' and will thus need to go through devaluation. The working of the...
Persistent link: https://www.econbiz.de/10014078646
Persistent link: https://www.econbiz.de/10001763026
Persistent link: https://www.econbiz.de/10001669686
Persistent link: https://www.econbiz.de/10011707821
This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical features of low-income countries. Within a class of policy rules, it jointly considers the...
Persistent link: https://www.econbiz.de/10012102039