The adverse impact of sovereign debt defaults on the international financial system has occasioned intense interest in methodologies for assessing sovereign debt risk. This is manifest in an outpouring of studies, research which has uncovered the fact that the riskiness of sovereign debt is...

This study contends that Caribbean countries cannot adequately surmount their fiscal and debt challenges in the absence of binding rules that are geared toward entrenching fiscal discipline, curbing fiscal procyclicality, and improving budget transparency and credibility. Distilling global...

This study uses simulations of state-dependent distributions of fiscal limits for 18 economies in Central America and the Caribbean to better understand governments' ability to service their debt, arising from endogenously determined dynamic Laffer curves. Using a small, open economy model to...